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."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR current resilience might be only temporary – BTMU

  2. Forex News

    EUR/USD retraces to 1.0920-1.0930

  3. Forex News

    EUR downtrend remains intact – ANZ

  4. Forex News

    EUR/USD attempting to form a base? – UOB Group

  5. Forex News

    Pound May Overlook UK GDP Upgrade, Aussie Dollar Drops on Capex Data

Trading Center