EUR/USD trading around key Fibonacci support of 1.3620 - FXStreet

By FXstreet.com | July 14, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD remains weak on Monday, having fallen to key Fibonacci support area of 1.3620 from daily high of 1.3640.



Key quotes



"Safe havens eased all through the session, but the EUR/USD was unable to go too far away: the pair reached a daily high of 1.3640 before turning back south, now trading around key Fibonacci support of 1.3620."



"The hourly chart shows price easing towards a congestion of moving averages, all together around 1.3610 as indicators turn lower above their midlines."



"In the 4 hours chart the pair is biased lower also, yet unless a break below 1.3570, the downside should extend much today."



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