EUR/USD unable to hold above 1.3200

By FXstreet.com | August 25, 2014 AAA

FXStreet (San Francisco) - The Euro attempted to recover from multi-month lows at 1.3180 and it traded above 1.3200 earlier in the day, however the pair wasn't able to hold these prices and now it is pricing at 1.3190.



Currently, EUR/USD is trading at 1.3193, down 0.37% on the day, having posted a daily high at 1.3211 and low at 1.3184. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.



EUR/USD update



According to Jamie Coleman from FXBeat, the USD is taking a well-deserved breather. "More monetary action from the ECB and BOJ is expected but we are probably some months away from the actual launch of new policy."



"The dollar should retain a firm footing but rallies will not be in a straight line," Coleman points out. "They rarely are."



To the upside, 1.3210, 1.3220 and 1.3280 are resistances. "If we firm above that level, we may fill the opening gap up to 1.3420 before dipping again," Coleman says.



On the downside, supports are at 1.3180, 1.3150 and 1.3110.



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