EUR/USD falls on better than expected US Q2 GDP - FXStreet

By FXstreet.com | July 30, 2014 AAA

FXStreet (Łodź) - FXStreet Chief Analyst Valeria Bednarik notes that the weak US ADP number was ingnored by investors who jumped on the dollar after the better than expected US Q2 GDP data was released.



Key quotes



“The EUR/USD fell as low as 1.3370 so far today, with selling interest now probably surging around 1.3400.”



“The hourly chart shows price extending below a bearish 20 SMA and indicators heading south in negative territory, while the 4 hours chart presents also a bearish technical tone.”



“With the FED schedule for the American afternoon, the pair may see no follow through in the short term, but as long as below 1.3400/10 the downside is favored, towards 1.3295 strong static support area, November 2013 monthly low.”



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