EUR/USD subdued while bulls seek above 1.3215

By FXstreet.com | August 27, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3194, up 0.01% on the day, having posted a daily high at 1.3195 and low at 1.3192.



EUR/USD was building up to 1.32 on a weaker dollar while profits were being taken across the board. Technically, Valeria Bednarik, chief analyst at FXStreet explained that the short-term picture shows a mild positive tone, with price above a bullish 20 SMA in the hourly chart and indicators in positive territory, albeit showing no directional strength. “In the 4 hours chart and despite some spikes above it, price remains capped by its 20 SMA currently around 1.3195, as indicators corrected oversold readings but lost upward potential below their midlines. Above 1.3215, the pair may finally fill the weekly opening gap in the 1.3240 area, yet further gains remain subdue to inflation data to be released on Friday”.



EUR/USD support and resistance



Support levels: 1.3150 1.3120 1.3090



Resistance levels: 1.3215 1.3240 1.3280



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