EUR/USD is on the way to new lows

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3567, slid to 1.3556 and is trading not far from it.



Banco Espirito and domino



The euro is depressed, and it should be given the risks evolving in the banking sector of the region again. Although there were comments that Banco Espirito’s problems are not that huge to trigger broad based reaction of the industry, yesterday it looked like the problems were deeper than it is presented. And if the issue keeps going this way, it may trigger even broader sell-off of the pair with initial target at 1.3518 support level.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3586, with support below at 1.3543, 1.3518 and 1.3475, with resistance above at 1.3611, 1.3654, and 1.3679. Hourly Moving Averages are bearish, with the 200SMA at 1.3606 and the daily 20EMA flat at 1.3616. Hourly RSI is bearish at 32.



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