EUR/USD: Risk remains to the downside - FXStreet

By FXstreet.com | July 06, 2014 AAA

FXStreet (Bali) - EUR/USD is trading marginally below 1.36 at the open of the Asian markets, with Valeria Bednarik, Chief Analyst at FXStreet, noting that risk remains to the downside.



Key Quotes



'The pair extended NFP slide to 1.3585, finding some support on the strong static support area, albeit unable to regain much ground."



"In the short term, the hourly chart shows price aiming to cross above its 20 SMA while indicators also advance some but hold below their midlines. In the 4 hours chart indicators bounced some oversold levels but remain in negative territory as price develops below moving averages."



"Steady gains above the 1.3600 figure may favor 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."



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