EUR/USD into oversold levels

By FXstreet.com | August 25, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3194, down -0.36% on the day, having posted a daily high at 1.3211 and low at 1.3184.



EUR/USD is extending the downside and now we are heading into waters that have not been visited since September 2013. Valeria Bednarik, chief analyst at FXStreet said that Draghi and Kuroda are to blame for the wild weekly openings in favor of the greenback, as both down talked their currencies over the weekend in Jackson Hole. “Technically, the hourly chart presents a strong downward momentum coming from technical readings, mostly due to the 50 pips gap; in the 4 hours chart indicators entered oversold levels, with 20 SMA now offering intraday resistance at 1.3270 in case of a recovery”.



Support and resistance levels



Support levels: 1.3185 1.3150 1.3120



Resistance levels: 1.3210 1.3240 1.3270



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