EUR/USD testing the parameters

By FXstreet.com | Updated August 13, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3365, down -0.03% on the day, having posted a daily high at 1.3416 and low at 1.3342.



The EUR/USD was lower due to a weak set EZ industrial production numbers but found some relief on the US Retail Sales disappointments and moved back to where we started the day. Valeria Bednarik, chief analyst at FXstreet explained the hourly chart shows price closing the day below its moving averages, while indicators approach their midlines, having erased all of their overbought readings. “In the 4 hours chart indicators retrace from their midlines extending into bearish territory, as latest candle opened below a flat 20 SMA. As long as below mentioned 1.3430/40 area, the upside will remain limited, while a break below 1.3330 lows should trigger stops and therefore fuel the dominant bearish trend”.



EUR/USD support / resistance levels



Support levels: 1.3330 1.3295 1.3250



Resistance levels: 1.3400 1.3440 1.3485



You May Also Like

Related Forex Analysis
  1. Forex News

    EUR/USD steady into Tokyo bettered offered

  2. Forex News

    Why the Fed may underestimate disinflation - Rabobank

  3. Forex News

    Key events to come - Westpac

  4. Forex News

    EUR/USD heading to fresh year lows? - FXStreet

  5. Forex News

    US session recap: FOMC…dovish, hawkish, bullish/bearish?

Trading Center