EUR/USD off lows, still vulnerable

By FXstreet.com | Updated August 27, 2014 AAA

FXStreet (Córdoba) - The EUR/USD has managed to recover slightly and is trading nearly flat on the day after hitting yet another yearly low during the Asian session.



The euro remains under broad pressure after ECB President Draghi lifted expectations of further monetary stimulus for the Eurozone. The EUR/USD has printed a lower 2014 low for the seventh trading day in a row Wednesday.



At time of writing, the EUR/USD is trading at 1.3170, virtually unchanged on the day, having scored a low of 1.3152 so far. The pair has lost 0.51% this week and has failed to fill the opening gap.



EUR/USD technical levels



In terms of technical levels, the EUR/USD could find immediate supports at 1.3152 (Aug 27 low), 1.3104 (Sep 6 2013 low) and 1.3100 (psychological level). On the flip side, resistances are seen at 1.3200 (psychological level), 1.3238 (Aug 22 closing price) and the 1.3295/1.3300 area (Aug 22 high/psychological level).



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