FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained the performance of EUR/USD in the US session.
“The EUR/USD flirted with this year low before bouncing, contained inside a daily descendant channel coming from 1.3627, July 14th daily high, with the roof of the figure converging with 100 SMA in the hourly chart around 1.3390 and immediate resistance”.
“In the same time frame 20 SMA heads lower above current price, while indicators head slightly higher still in oversold levels, all of which suggest current advance will remain short lived”.
“In the 4 hours chart momentum heads lower in negative territory, while moving averages stand well above current price, all of which supports the shorter term view”.
“Support levels: 1.3335 1.3295 1.3250”.
“Resistance levels: 1.3395 1.3430 1.3475”.