EUR/USD makes U-turn, turns negative

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The recovery of the EUR/USD proved to be just an illusion as the pair gave up its intraday gains in a matter of minutes.



The EUR/USD found resistance at the 1.3580 area during the European session and slid all the way to a fresh daily low of 1.3534, retracing completely its recent bounce, with a wider-than-expected April trade surplus not helping the euro. At time of writing, the EUR/USD is trading at 1.3538, now down 0.08% on the day.



EUR/USD technical levels



In terms of technical levels, the EUR/USD could find immediate supports at 1.3510 (Jun 12 low) and 1.3500 (psychological level) ahead of 1.3476 (210 low Feb 3). On the other hand, resistances are seen at 1.3580 (Jun 13 high), 1.3600 (psychological level) and 1.3620 (21-day SMA).



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