EUR/USD is ending the week soft, sub 1.36 handle

By FXstreet.com | July 04, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3594, down -0.11% on the day, having posted a daily high at 1.3612 and low at 1.3585.

EUR/USD is finishing up looking pretty soft despite the week’s earlier gains. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that president Draghi did suggest yesterday that the ECB is watching EUR with great attention but that it is not a policy target. “The other shift was a change in meeting schedules, now to be held every six weeks and the publication of meeting minutes." She went onto say, "We see the meeting as proving relatively neutral in terms of new information but juxtaposed against policy expectations in the U.S. should support a lower EUR. We hold a year‐end forecast of 1.30." Meanwhile, daily RSI is in neutral territory at 46.46.

EUR/USD Levels

With spot trading at 1.3595, we can see next resistance ahead at 1.3596 (Yesterday's Low), 1.3597 (Weekly Classic S1), 1.3600 (Hourly 20 EMA), 1.3610 (Weekly Low) and (Daily Open). Support below can be found at 1.3585 (Daily Low), 1.3582 (Daily Classic S1), 1.3553 (Daily Classic S2), 1.3546 (Weekly Classic S2) and 1.3532 (Monthly Low).

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