26 Jun 2014
EUR/USD back below 1.3600 - FXStreet
FXStreet (Łódź) - Following the release of US PCE, which showed a slight rise in the core and the headline figures, FXStreet Chief Analyst Valeria Bednarik notes that the EUR/USD dropped below the 1.3600 level again.
Key quotes
"The failure at 1.3650 indeed is pretty significant, as the retracement of the critical resistance back towards the lows of the range."
"The hourly chart shows price broke below the ascendant trend line coming from Jun 16th low of 1.3512, while indicators head lower below their midlines with a strong downward momentum."
"In the 4 hours chart indicators are also biased lower yet now in neutral territory, meaning further confirmation is required for a bearish run."
Key quotes
"The failure at 1.3650 indeed is pretty significant, as the retracement of the critical resistance back towards the lows of the range."
"The hourly chart shows price broke below the ascendant trend line coming from Jun 16th low of 1.3512, while indicators head lower below their midlines with a strong downward momentum."
"In the 4 hours chart indicators are also biased lower yet now in neutral territory, meaning further confirmation is required for a bearish run."