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”.



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