EUR/USD moves closer to 1.3400

By FXstreet.com | July 29, 2014 AAA

FXStreet (Córdoba) - Dollar appeal is increasing as a 2-day FOMC meeting gets underway and investors await US GDP and nonfarm payrolls data later this week.



The EUR/USD broke below the 1.3420 area and fell to its lowest since November during the New York session. The pair bottomed out at 1.3408 and it was last trading down 0.18% at the 1.3410 area.



The greenback was getting some support from an uptick in consumer confidence, although the move started earlier. US consumer confidence index rose to 90.9 in July, its strongest since October 2007, before the last recession.



EUR/USD technical levels



If the EUR/USD loses the 1.3400 level, next supports are seen at 1.3359 (Nov 12 2013 low) and 1.3350 (100-week SMA). On the other hand, resistances in case of bounces could be faced at 1.3444 (Jul 29 & 28 high), 1.3476 (Feb low and 10-day SMA), 1.3485 (Jul 25 high) and 1.3500 (psychological level).



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