EUR/USD drops despite European markets' better performance - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD has been falling during the European session, even though share markets in the area are in the green, boosted by the US stocks rally on Wednesday.



Key quotes



" The pair fell down to 1.3610, bouncing some from the level, but losing the upward potential seen on previous updates."



"The 4 hours chart shows indicators turning lower and nearing their midlines, while price rest above its 20 SMA. A daily ascendant trend line stands today around the 1.3600 figure, while recent lows at the 1.3570/80 price zone offer further intraday support."



"Holding recent range, failure at key 1.3650 yesterday doesn’t look good for the common currency subdued compared even to the Swiss Franc. Risk to the downside is still high then, looking for a slow but steady slide towards 1.3510 on a break below mentioned support."



"Gains above 1.3645 on the other hand may see the pair extending up to 1.3680 critical Fibonacci level, yet only above this last downward risk will begin to diminish."



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