FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD fell on Tuesday to 1.3380 following the release of the disappointing Eurozone PMI services numbers.



Key quotes



"Technically, failure to advance beyond the 23.6% retracement of the 1.3639/1.3366 daily fall has helped discouraging buyers."



"The hourly chart presents a strong bearish tone, as indicators continue heading south despite in oversold levels, while price stands now below its moving averages."



"In the 4 hours chart technical readings also present a bearish stance, with 1.3366 this year low coming as immediate support in route to 1.3295."



Investopedia makes you smarter.
Sign up for the News to Use newsletter for the latest in expert analysis, market insights and news.