EUR/USD sitting not so pretty at 1.36 the figure

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Currently, EUR/USD is trading at 1.3600, down -0.03% on the day, having posted a daily high at 1.3606 and low at 1.3598.

Valeria Bednarik, chief analyst at FXStreet noted how the EUR/USD range is tighter with the pair posting a doji daily basis, for second day in a row. “Early Europe weak PMI readings put the pair under mild pressure, albeit buyers surged on a test of 1.3770/80 static support area. US manufacturing PMI however, printed a healthy 57.5 showing steady signs of growth over that side of the Atlantic. Nevertheless, stocks fell after closing at record highs on Friday, and the EUR/USD managed to hold around the 1.3600 figure”.

EUR/USD technically bearish

“Technically”, she explained, “there’s not much to add in the overall view…“In the 4 hours chart a mild bearish tone comes from momentum indicators albeit only a break below mentioned support the greenback may see some follow through”.

EUR/USD Levels

With spot trading at 1.3600, we can see next resistance ahead at 1.3605 (Daily Open), 1.3606 (Daily High), 1.3607 (Weekly High), 1.3608 (Daily 20 SMA) and 1.3615 (Yesterday's High). Support below can be found at 1.3599 (Daily Classic PP), 1.3598 (Daily Low), 1.3598 (Hourly 20 EMA), 1.3590 (Hourly 100 SMA) and 1.3585 (Weekly Classic PP).

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead

  2. Forex News

    Trading Video: Sentiment, Dollar and Euro All At-Risk Next Week

  3. Forex News

    IBM, Google and Others Take an FX Revenue Hit in Q1

  4. Forex News

    Investors are eager to know when the Federal Reserve will act - FXStreet

  5. Forex News

    US data will likely delay Fed action- Rabobank

Trading Center