25 Nov 2013
EUR/USD drops below 1.3500
FXstreet.com (Córdoba) - The EUR/USD came under renewed pressure and dipped below the 1.3500 mark during the American session, having been rejected from a peak of 1.3560 at the weekly opening.
The EUR/USD pierced the 100-hour SMA and hit a fresh daily low of 1.3492 in recent dealings, although it managed to bounce slightly as the USD weakened on the back of disappointing US pending home sales. The pace of pending US home sales fell 0.6% in October for the fifth straight month, missing market expectations of a rise of 2.0%.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at the 1.3500 zone, recording a 0.3% loss on the day. In terms of technical levels, the EUR/USD could find next supports at 1.3484 (200-day SMA) and 1.3461 (Nov 22 low). On the other hand, resistances could be found at 1.3559 (daily high) and 1.3576 (Nov 20 high).
The EUR/USD pierced the 100-hour SMA and hit a fresh daily low of 1.3492 in recent dealings, although it managed to bounce slightly as the USD weakened on the back of disappointing US pending home sales. The pace of pending US home sales fell 0.6% in October for the fifth straight month, missing market expectations of a rise of 2.0%.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at the 1.3500 zone, recording a 0.3% loss on the day. In terms of technical levels, the EUR/USD could find next supports at 1.3484 (200-day SMA) and 1.3461 (Nov 22 low). On the other hand, resistances could be found at 1.3559 (daily high) and 1.3576 (Nov 20 high).