EUR/USD pressured back towards 1.36 handle

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3603, up 0.06% on the day, having posted a daily high at 1.3644 and low at 1.3584.



EUR/USD is being pressured back to the downside while the US economy is growing much faster than Europe's, as explained by Kit Juckes, Global Head of Currency Strategy at Societe Generale “The Fed is talking about tightening, one day, and the ECB probably isn't done easing. But still, this policy and short rate divergence has come with a bang in recent weeks and has an awfully long way to go…Short EUR/USD will follow the rate move and while I still want to wait until the end of the summer to go short EUR/USD (somewhere in a 1.35-1.40 range) we're getting there."



EUR/USD Levels



Spot is presently trading at 1.3604, and next resistance can be seen at 1.3610 (Daily 20 SMA), 1.3610 (Hourly 20 EMA), 1.3617 (Daily Classic R1), 1.3636 (Weekly Classic R1) and 1.3638 (Daily Classic R2). Support below can be found at 1.3600 (Yesterday's High), 1.3596 (Weekly High), 1.3596 (Daily Open), 1.3584 (Daily Low) and 1.3579 (Daily Classic PP).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Trading Video: Sentiment, Dollar and Euro All At-Risk Next Week

  2. Forex News

    Investors are eager to know when the Federal Reserve will act - FXStreet

  3. Forex News

    US data will likely delay Fed action- Rabobank

  4. Forex News

    The Greeks are running out of time - FXStreet

  5. Forex News

    Key events for the week ahead in EZ - TDS

Trading Center