EUR/USD falls for the 4th consecutive day

By FXstreet.com | June 11, 2014 AAA

FXStreet (Córdoba) - The EUR/USD lost ground again on Wednesday, falling for the fourth consecutive day, retreating further from post-ECB highs and finished hovering around 1.3525/30, posting the lowest daily close since early February.



The Euro ended just a few pips above daily lows, after falling on American hours from 1.3557 (daily high).



EUR/USD technical outlook



“The hourly chart shows price above its 20 SMA but indicators turning flat around their midlines, losing early upward momentum”, says Valeria Bednarik, Chief Analyst at FXStreet.



The 4 hours chart indicators aim slightly higher from oversold levels, notes Bednarik, “supporting current upward corrective movement, albeit 20 SMA maintains a strong bearish slope, offering dynamic resistance also around 1.3580”.



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  3. US Session recap: USD consolidation ahead of FOMC
    Forex News

    US Session recap: USD consolidation ahead of FOMC

  4. A market in a technical snap-shot - RBS
    Forex News

    A market in a technical snap-shot - RBS

  5. EZ gave mixed data at key timings - BBH
    Forex News

    EZ gave mixed data at key timings - BBH

Trading Center