FXStreet (San Francisco) - The Euro is extending falls against the US Dollar following a short period of consolidation just above 1.3600 and now the EUR/USD is pricing sub-1.36 prices around 1.3585.
Currently, EUR/USD is trading at 1.3591, down -0.37% on the day, having posted a daily high at 1.3652 and low at 1.3589. EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
"Perhaps there was some options interest holding up the euro which went by the boards with the 10 am cut," comments Jamie Coleman from FXBeat. "Wholesale inventories data certainly was not the catalyst."
If the pair extends losses, 1.3585 and 1.3575 are next supports. On the upside, 1.3600 becomes resistance ahead of 1.3650 and 1.3700.