EUR/USD lost 1.3600 level and stops are activated

By FXstreet.com | Updated July 30, 2014 AAA

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.



EUR/USD sentiment



"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.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD drops to fresh session lows

  2. Forex News

    Euro Bears at Risk on Sticky CPI- Outlook Remains Bearish Below 1.10

  3. Forex News

    EUR/USD might fall to 1.0755 – FXStreet

  4. Forex News

    EUR/USD testing lows around 1.0780

  5. Forex News

    Barclays – How far can the USD go? – eFXnews

Trading Center