EUR/USD technicals bearish - FXStreet

By FXstreet.com | August 04, 2014 AAA

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD traded steadily between 1.3410 and 1.3430 being the 23.6% retracement of the 1.3639/1.3366 slide.



Key Quotes:



“The hourly chart shows 20 SMA turning lower and capping the upside for most of the last session, while indicators aim slightly lower below their midlines”.



“In the 4 hours chart price holds above a flat 20 SMA that offers dynamic support around 1.3400, while indicators lose upward potential still in positive territory, overall a weak technical stance that continues to favor the downside”.



“Support levels: 1.3405 1.3370 1.3335”.



“Resistance levels: 1.3440 1.3475 1.350”.



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