EUR/USD depressed at 8-mont low ahead of EU PMI's

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Bali) - EUR/USD has been going nowhere fast the last 24 hours, with current rate at 1.3460 ahead of Euro zone PMI's later today.



As Peter Fell, Analyst at FXBeat, notes: "We have opened in Asia at 1.3462, solid sovereign demand remains at 1.3455 and of course the well documented 1.3450 barrier will provide further demand."



Below 1.3450 would target a move to 1.3400, November 2013 low, below there, 1.3374 is the 50% fib on the 1.2755 / 1.3993 rise. Resting sell orders remain between 1.3475/85 and more cited around 1.3500."



Related Forex Analysis
  1. Forex News

    Beware Risk Trends as Traders Question Oil Market’s Implications

  2. Forex News

    EUR/USD trading end of November with mixed forward outlook - Scotiabank

  3. Forex News

    ECB: “What does T-LTRO 1 take-up mean?” - Rabobank

  4. Forex News

    Key ECB developments - BNP

  5. Forex News

    EUR/USD parked in lows near 1.2440

Trading Center