FXStreet (Guatemala) - EUR/USD is trading at 1.3373, down -0.36% on the day, having posted a daily high at 1.3426 and low at 1.3358.



EUR/USD is making an attempt here to maintain form on the upper end of the 1.33 handle post a steep drop from 1.3420 channel. We has the services PMI that dropped to 54.2 from the flash estimate of 54.4 but we got the EZ retail sales that were encouraging.



EUR/USD technical with bearish bias



Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that EUR/USD short‐term technical are still bearish. “EUR is trending lower and technical studies warn of further near‐term downside risk however the RSI has fallen to 30, which for EUR is oversold; accordingly there is some near‐term risk of a period of stability before there is further downside momentum. Support lies at the recent low of 1.3367 followed by 1.3300."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD retreats from 1.0990, back to 1.0950

  2. Forex News

    Fed hike on its way, ISM employment component on track - ING

  3. Forex News

    US Dollar Set for Big Moves - Here are the Strategies We’re Watching

  4. Forex News

    EUR/USD regains 1.0980 on ISM

  5. Forex News

    EUR/USD stays near lows after US data

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!