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

By FXstreet.com | July 23, 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."



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