EUR/USD subdued on a slow ascent

By FXstreet.com | August 21, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3282, up 0.17% on the day, having posted a daily high at 1.3289 and low at 1.3242.



EUR/USD is making hard work of any sort of a comeback and is still someway off the 1.33 handle along a slow ascent. The greenback’s losses are limited here and we now await the Jackson Hole symposium tomorrow that will have traders fastened to their desks listening to both Draghi and Yellen speaking. Valeria Bednarik, chief analyst at FXStreet explained that in the hourly chart, it shows price above a mild bullish 20 SMA, with indicators losing upward strength in positive territory. “In the 4 hours chart indicators corrected oversold readings, but remain well into negative territory, while 20 SMA maintains a strong bearish slope around 1.3310, all of which suggest the upside will remain limited, and rather be a selling opportunity than a sign of a bottom”.



EUR/USD support and resistance levels



Support levels: 1.3250 1.3210 1.3170



Resistance levels: 1.3310 1.3340 1.3385



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