EUR/USD heading for 1.30?

By FXstreet.com | July 22, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3469, down -0.41% on the day, having posted a daily high at 1.3530 and low at 1.3459.



EUR/USD is trading heavy and dropped out of the sideways channel. However, Jane Foley Senior Currency Strategist explained that the continued dovish tone of Yellen suggests that the Fed is in no rush to hike rates. “However, we maintain that the central bank will gradually start to tighten policy by the end of 2015…For now USD gains could be limited until Yellen dismisses her dovish tone. That said, we could currently be witnessing the start of the long awaited turnaround for EUR/USD. Our 12 mth forecast stands at 1.30”.



EUR/USD Levels



With spot trading at 1.3469, we can see next resistance ahead at 1.3469 (Daily Classic S3), 1.3497 (Hourly 20 EMA) and 1.3507 (Daily Classic S1). Support below can be found at 1.3462 (Weekly Classic S1), 1.3459 (Daily Low), 1.3401 (Weekly Classic S2), 1.3311 (Weekly Classic S3) and 1.3120 (Annual Low).



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