EUR/USD reinforcing a bearish bias?

By FXstreet.com | July 06, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3582, down -0.09% on the day, having posted a daily high at 1.3597 and low at 1.3581.



EUR/USD has tailed away slightly with the greenback making some prominent ground in early Asia, extending its losses below 1.36 handle post last weeks early Non farm payrolls number. The price is continuing to develop below short term MA’s here and offers a bearish bias. If however as, Valeria Bednarik, chief analyst at FXStreet states, “steady gains” above the 1.3600 figure would likely favour a recovery up to 1.3640/50 strong static resistance area. “Yet risk remains to the downside, moreover on a break below 1.3575 price zone”.



EUR/USD Levels



Current price is 1.3582, with resistance ahead at 1.3583 (Daily Classic S1), 1.3585 (Yesterday's Low), 1.3595 (Daily Open), (Weekly Low) and 1.3597 (Hourly 20 EMA). Next support to the downside can be found at 1.3581 (Daily Low), 1.3570 (Daily Classic S2), 1.3556 (Daily Classic S3), 1.3553 (Weekly Classic S1) and 1.3532 (Monthly Low).



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