EUR/USD rebounds and rises back above 1.3500

By FXstreet.com | July 18, 2014 AAA

FXStreet (Córdoba) - The EUR/USD moved off daily lows and rose back above 1.3500. During the last two hours moved in a range between 1.3520 and 1.3505. Earlier dropped to 1.3489, hitting the lowest price since February.



EUR/USD technical outlook



According to Valeria Bednarik, Chief Analyst at FXStreet the daily chart shows price moving further below its 20 SMA, “as indicators gain bearish momentum getting into negative territory”.



“The same chart shows that around the 1.3476 area, this year low, there are also several daily highs and lows back from September 2013, reinforcing the strength of the support”, notes Bednarik.



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