EUR/USD stable around 1.3655

By FXstreet.com | July 02, 2014 AAA

FXStreet (Córdoba) - The EUR/USD remains steady ahead of the Asian session hovering around 1.3655. The Euro lost ground against the US dollar on Wednesday for the second day in a row, pulling back from 1.3700.



The pair bottomed after US economic data on Wednesday at 1.3640 but then rebounded, trimming losses. The upside was capped by 1.3660.



EUR/USD technical outlook



“Nevertheless and from a technical point of view, the hourly chart shows indicators in negative territory and price developing below 20 and 100 SMAs, showing no directional strength”, says Valeria Bednarik, Chief Analyst at FXstreet.



In the 4-hour charts price stands below the 20 Simple Moving Average, notes Bednarik, “while indicators hover around their midlines, having erased early week overbought conditions”.



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