EUR/USD recovers some ground on disappointing US data - FXStreet

By FXstreet.com | June 12, 2014 AAA

FXStreet (Barcelona) - According to FXStreet Chief Analyst Valeria Bednarik EUR/USD posted a lower low daily basis of 1.3511 this Thursday having recovered some ground amid poor US retail sales and unemployment data, both missing expectations.



Key quotes



“Stocks in the US point for a lower opening, extending yesterday’s losses, while local share markets are quite flat.”



“As for the EUR/USD, the pair managed to bounce some but the upside is still quite limited, with price far from 1.3570/80 resistance area.”



“The hourly chart shows price holding above its 20 SMA ahead of US opening, while indicators remain flat around their midlines, lacking direction.”



“In the 4 hours chart 20 SMA maintains a strong bearish slope around 1.3560, while indicators resumed the downside below their midlines, with risk still seen towards 1.3476 this year low.”



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