FXStreet (Bali) - EUR/USD continues offered in Asia, with selling interest still overwhelming bids lying below the 1.32 round number, resulting on a new year low printed in Asia at 1.3179.



Price action in EUR/USD remains a reflection of the current market views on diverging monetary policy expectations between the ECB (firmly dovish) and the Fed (faster rate hikes being speculated).



Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "The bearish pressure remains in place, with the short term picture neutral as per the lack of definitions over the last 24 hours: the hourly chart shows price right below its 20 SMA and indicators barely turning lower around their midlines. In the 4 hours chart momentum turned south well into negative territory, while RSI holds steady in oversold levels as 20 SMA extended lower."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Greek optimism hitting brick wall - BBH

  2. Forex News

    EUR/USD re-focused on 1.1000

  3. Forex News

    Key take away fundamentals for US ad EZ - BNP

  4. Forex News

    EUR/USD drops further on Yellen

  5. Forex News

    USDOLLAR Rebound Vulnerable to 1Q GDP Contraction

Trading Center