EUR/USD hits fresh daily lows

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The EUR/USD failed to hold above the 1.3600 level and fell to fresh daily lows during the European session, weighed by disappointing Markit PMI and the decline in equities.

EUR/USD slips below 100-hour SMA



The EUR/USD, that peaked at 1.3612 earlier on the day, came under pressure after the Markit manufacturing PMI came in at 52.8 versus 53.2 the previous month and 53.3 expected. the EUR/USD slid below the 100-hour SMA and hit a daily low of 1.3578 in recent dealings.



EUR/USD technical perspective



From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD holds a neutral tone, trading within familiar ranges. According to Bednarik, it will take a clear break through 1.3510 to confirm some bearish momentum, eyeing then 1.3475. “Steady gains above 1.3612 on the other hand, may see price advancing up to 1.3640/50 area, albeit further gains are not seen at the time being”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Investing

    EUR/USD Falls During Wednesday Trading

  2. Forex News

    EUR/USD hovers around 1.1300, German labour report in focus

  3. Forex News

    EUR/USD failure to break above 1.1320/15 – DayTradeIdeas

  4. Forex News

    EUR/USD steadies below 1.1300 post FOMC, German CPI eyed

  5. Forex News

    Euro May Overlook Soft German CPI Data, Swiss Franc Under Fire

Trading Center