FXStreet (Barcelona) - Chief Analyst Valeria Bednarik remarks that EUR/USD trades barely changed on Wednesday, holding the title of worst performance of the day.
“After setting a lower low for the week at 1.3521, following bounced was short of 1.3570 immediate resistances, and price slowly grinded back lower in the US afternoon."
“Short term, the hourly chart shows price moving back and forth around its 20 SMA, while indicators returned to its neutral stance.”
“In the 4 hours chart technical readings maintain the pair biased lower, with indicators back down after correcting oversold readings, and 20 SMA extending further down currently acting as intraday resistance around mentioned 1.3570/80 area.”
“Risk remains to the downside, with critical support at 1.3476, this year low.”