EUR/USD erases gains, back to 1.3360

By | Updated August 13, 2014 AAA

FXStreet (Córdoba) - The EUR/USD pulled back in the last hours, erasing all gains. Price peaked after US economic data at 1.3413, the highest price since last Friday but failed to hold above 1.3400 and then retreated further as the US dollar strengthened across the board.

Recently the EUR/USD dropped to 1.3354, the lowest point of the American session and the price it had before the release of US retail sales numbers. Currently trades at 1.3360/65, less than 5 pips below the price it had at the beginning of the day.

“Downside pressure has returned with traders reluctant to buy EUR/USD aggressively ahead of what could be an ugly euro zone GDP report tomorrow morning”, says Jamie Coleman from FXBeat.

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