EUR/USD down for second straight day - FXStreet

By FXstreet.com | July 02, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD has slid for the second consecutive day to the 1.3655 level where it stalled, even though the dollar maintains a bearish tone across the board.



Key quotes



"Failure to extend beyond 1.3700 increases the risk to the downside, at least from a technical point of view, moreover now that the pair trades back below the 1.3675 level, 61.8% retracement of this year rally."



"But for the most, range prevails and with ECB and US NFP tomorrow, expectations are quite limited intraday."



"The 4 hours chart presents a mild bearish tone, with indicators heading strongly south and about to cross their midlines, and price now standing below a bullish 20 SMA."



"Further slides below 1.3650 should signal a continuation towards 1.3610 area, probable bottom of the day."



"To the upside, a breach beyond mentioned 1.3700 figure seems unlikely for today, ahead of the mentioned macroeconomic releases."



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center