FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that better than expected EMU Sentix Investor Confidence data propped up to euro on Monday.
"EUR/USD is flirting with the 1.3600 figure, having again found buyers in the 1.3575 price zone."
"Technically, the 4 hours chart has little to offer to buyers, with indicators barely correcting oversold levels before losing upward potential well into negative territory, while price develops well below moving averages."
"Some steady gains above 1.3620 immediate resistance as per being the 23.6% retracement of this year rally, are required to confirm a move higher, eyeing then 1.3650 price zone, and above 1.3680."
"Downward risk comes with a break below 1.3570, exposing first 1.3530 price zone, and if below this last, eyeing this year low of 1.3475."