EUR/USD testing the parameters

By FXstreet.com | 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



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. EUR/USD Daily Outlook - September 19
    Investing

    EUR/USD Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center