EUR/USD takes a breather above 1.3400

By FXstreet.com | Updated July 28, 2014 AAA

FXStreet (Córdoba) - The EUR/USD has only traded within a narrow range Monday, taking a breather above the 1.3400 level following 2 weeks of losses.



Divergent ECB and Fed policies along with softening economic data from the Eurozone are taking their toll on the euro, which has lost nearly 3 big figures throughout the month. However, the EUR/USD has managed to pause ahead of 1.3400 as investors await a bunch of economic indicators the Fed policy meeting and the US nonfarm payrolls later this week.



At time of writing, the EUR/USD is trading at 1.3438, 0.06% above its opening price, having scored a daily high of 1.3441 in recent dealings.

EUR/USD technical levels



In terms of technical levels, short-term resistances are seen at 1.3475 (Jul 25 high), 1.3490 (10-day SMA) and 1.3500 (psychological level). On the other hand, supports could be found at 1.3420 (2014 low Jul 25), 13400/1.3399 (psychological level/Nov 21 2013 low) and 1.3390 (Nov 13 2013 low).



Related Forex Analysis
  1. Forex News

    EUR/USD Awaiting Reversal Pattern Near 1.2500 To Signal A Turn

  2. Forex News

    Euro Heading Into Turbulent Fundamental Seas

  3. Forex News

    Trading Video: On Volatility Watch with Euro and Yen Crosses

  4. Forex News

    Strategy Video: When to Go for the Short-Term or Long-Term Trade

  5. Forex News

    ECB may become compelled for a more radical approach - Rabobank

Trading Center