FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD finally saw some air early US opening.
“…managing to advance some pips above former weekly high, albeit stalling right below 1.3620, 23.6% retracement of the 1.40/1.35 slide, still the key level to overcome to see a bit more constructive trend in there. In the meantime, the lack of data both shores of the Atlantic, helped the pair to remain in its usual comatose state”.
“Technically, the hourly chart shows a mild positive tone, while the 4 hours chart also presents a bullish technical stance, albeit price is stuck around moving averages also, with 20, 100 and 200 all together in a 10 pips range, reflecting latest range”.
“Some gains above mentioned 1.3620 may see the pair extending its advance up to 1.3660/80 area, while stops continue to grow below 1.3570 and if triggered, may finally see a bearish movement developing, eyeing 1.3476 this year low”.