EUR/USD into oversold levels

By FXstreet.com | Updated 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



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Will Fed and Greek Elections Keep FX Volatility Boiling

  2. Forex News

    Dollar and S&P 500 Traders Hold Breath for Fed Decision

  3. Forex News

    Trading Video: EURUSD, EURJPY and EURGBP Ready for Greek Election

  4. Forex News

    Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

  5. Forex News

    US Session Recap: Greenback profits taken off table

Trading Center