EUR/USD slightly bearish, weighed by June EZ CPI

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3614, down -0.11% on the day, having posted a daily high at 1.3642 and low at 1.3576.

EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. FX Strategists at the Bank of Tokyo Mitsubishi UFJ explained that the Fed’s dovish policy stance will likely still remain a dampener on potential upside for US yields and the US dollar in the near-term. "In contrast the euro remains on a weaker footing in the near-term after recent ECB policy easing. The release of the latest euro-zone inflation report for June may weigh on the euro in the week ahead if it reveals further evidence that disinflation pressures continue to build. However, downside risks for the euro appear only modest as the ECB is unlikely to announce further easing in the near-term."

EUR/USD Levels

Spot is presently trading at 1.3614, and next resistance can be seen at 1.3615 (Hourly 20 EMA), 1.3627 (Daily Classic PP), 1.3629 (Daily Open), 1.3629 (Weekly High) and 1.3642 (Daily High). Support below can be found at 1.3610 (Daily 20 SMA), 1.3607 (Hourly 100 SMA), 1.3602 (Daily Classic S1), 1.3600 (Yesterday's Low) and (Weekly Low).

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