FXStreet (Córdoba) - The EUR/USD dropped earlier to 1.3332 hitting a fresh 9-month low and after Wall Street opening bell managed to trim losses. The Euro rose to 1.3360 and currently is trading around 1.3355, 15 pips below the level it has at the beginning of the day.



Despite the recent recovery the EUR/USD is still facing downside pressure and is headed toward the third daily loss in a row and the lowest close since September 2013.



EUR/USD technical outlook

“The hourly chart shows price capped below its 20 SMA and indicators in negative territory, while in the 4 hours chart a strong bearish momentum prevails despite indicators stand in oversold territory”, says Valeria Bednarik, Chief Analyst at FXStreet.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EM's, China and Greece risks and Fed hike - DB

  2. Forex News

    FOMC getting closer on small detail - SG

  3. Forex News

    Bottom line: September rate hike on track - BBVA

  4. Forex News

    EUR/USD breaks below 1.0900

  5. Forex News

    Dollar Forecast Improves, Indicator Shows it May Rally Across the Board

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!