24 Jun 2014
EUR/USD sitting not so pretty at 1.36 the figure
FXStreet (Guatemala) - Currently, EUR/USD is trading at 1.3600, down -0.03% on the day, having posted a daily high at 1.3606 and low at 1.3598.
Valeria Bednarik, chief analyst at FXStreet noted how the EUR/USD range is tighter with the pair posting a doji daily basis, for second day in a row. “Early Europe weak PMI readings put the pair under mild pressure, albeit buyers surged on a test of 1.3770/80 static support area. US manufacturing PMI however, printed a healthy 57.5 showing steady signs of growth over that side of the Atlantic. Nevertheless, stocks fell after closing at record highs on Friday, and the EUR/USD managed to hold around the 1.3600 figure”.
EUR/USD technically bearish
“Technically”, she explained, “there’s not much to add in the overall view…“In the 4 hours chart a mild bearish tone comes from momentum indicators albeit only a break below mentioned support the greenback may see some follow through”.
EUR/USD Levels
With spot trading at 1.3600, we can see next resistance ahead at 1.3605 (Daily Open), 1.3606 (Daily High), 1.3607 (Weekly High), 1.3608 (Daily 20 SMA) and 1.3615 (Yesterday's High). Support below can be found at 1.3599 (Daily Classic PP), 1.3598 (Daily Low), 1.3598 (Hourly 20 EMA), 1.3590 (Hourly 100 SMA) and 1.3585 (Weekly Classic PP).
Valeria Bednarik, chief analyst at FXStreet noted how the EUR/USD range is tighter with the pair posting a doji daily basis, for second day in a row. “Early Europe weak PMI readings put the pair under mild pressure, albeit buyers surged on a test of 1.3770/80 static support area. US manufacturing PMI however, printed a healthy 57.5 showing steady signs of growth over that side of the Atlantic. Nevertheless, stocks fell after closing at record highs on Friday, and the EUR/USD managed to hold around the 1.3600 figure”.
EUR/USD technically bearish
“Technically”, she explained, “there’s not much to add in the overall view…“In the 4 hours chart a mild bearish tone comes from momentum indicators albeit only a break below mentioned support the greenback may see some follow through”.
EUR/USD Levels
With spot trading at 1.3600, we can see next resistance ahead at 1.3605 (Daily Open), 1.3606 (Daily High), 1.3607 (Weekly High), 1.3608 (Daily 20 SMA) and 1.3615 (Yesterday's High). Support below can be found at 1.3599 (Daily Classic PP), 1.3598 (Daily Low), 1.3598 (Hourly 20 EMA), 1.3590 (Hourly 100 SMA) and 1.3585 (Weekly Classic PP).