EUR/USD spending time above 1.3600

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - After being rejected by the 1.3635 zone, the EUR/USD slid back to its opening levels and has spent the last hours in quiet consolidation, unaffected by a series of disappointing Eurozone sentiment data.



The EUR/USD will probably extend its consolidation phase into the weekend as investors gear up for next week’s ECB meeting and US nonfarm payrolls, moved to Thursday due to the US Independence Day Friday. Data out today includes Germany’s CPI and the Reuters/Michigan consumer confidence index.



At time of writing, the EUR/USD is trading at 1.3612, virtually unchanged on the day. The euro however, remains on track for a minor weekly gain, having recovered from a low of 1.3575 over the last sessions.



EUR/USD technical levels



As for technical levels,next resistances for EUR/USD line up at 1.3650 (Jun 25 high), 1.3669 (200-day SMA) and 1.3668 (Jun 9 high). On the flip side, supports are seen at 1.3575 (Jun 26 & 23 lows),1.3563 (Jun 20 low) and 1.3540 (Jun 18 low).



You May Also Like

Related Forex Analysis
  1. Forex News

    EURUSD, AUDNZD, USDCAD - Lots of Room in Historical Ranges

  2. Forex News

    EURUSD, EURCHF - The Effectiveness of Stimulus

  3. Forex News

    Short EURUSD – Fed vs. ECB Policy Divergence to Fuel Deeper Euro Losses

  4. Forex News

    A day in the EUR/USD - FXStreet

  5. Forex News

    EUR/USD falls to lows at 1.2215

Trading Center