EUR/USD reinforcing a bearish bias?

By FXstreet.com | Updated July 30, 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).



Related Forex Analysis
  1. EUR/USD may move higher if it holds above 1.2505 - AceTrader
    Forex News

    EUR/USD may move higher if it holds above 1.2505 - AceTrader

  2. EUR/USD drops to lows at 1.2540
    Forex News

    EUR/USD drops to lows at 1.2540

  3. Lookout for Draghi’s speech - OCBC Bank
    Forex News

    Lookout for Draghi’s speech - OCBC Bank

  4. Dollar Draws Limited Reassurance from CPI Uptick, Fed Surveys
    Forex News

    Dollar Draws Limited Reassurance from CPI Uptick, Fed Surveys

  5. Yen Gains as Asian Stocks Decline, Euro Eyes Draghi Commentary
    Forex News

    Yen Gains as Asian Stocks Decline, Euro Eyes Draghi Commentary

Trading Center