EUR/USD at lowest level in over a month - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) -FXStreet Chief Analyst Valeria Bednarik remarks that EUR/USD keeps declining following Fed head Janet Yellen's testimony on Tuesday, hovering close to the 1.3520 level.



Key quotes



"Due to continue speaking before the Senate today, market may have already absorbed most of what she has to say regarding upcoming economic policies, albeit more market reactions should not be disregarded just yet."



"With no other major catalysts for the EUR/USD today, the hourly chart shows a strong bearish tone, with moving averages well above current price and heading south, while indicators are biased lower below their midlines."



"In the 4 hours chart the bearish momentum is even stronger, pointing for a retest of June low of 1.3502, ahead of this year low of 1.3476."



" To the upside, 1.3570 has attracted intraday sellers so recovery up to that level will likely be seen as selling opportunities. "



Related Forex Analysis
  1. EUR/USD falls to 1.2560
    Forex News

    EUR/USD falls to 1.2560

  2. EUR/USD Remains At Risk With Bearish Engulfing Pattern In Tow
    Forex News

    EUR/USD Remains At Risk With Bearish Engulfing Pattern In Tow

  3. Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop
    Forex News

    Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop

  4. EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen
    Forex News

    EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen

  5. EUR/USD: Selling to accelerate below 1.2580 - FXStreet
    Forex News

    EUR/USD: Selling to accelerate below 1.2580 - FXStreet

Trading Center