7 Jul 2014
EUR/USD's recovery contained by 1.3600
FXStreet (San Francisco) - The Euro bounced at 1.3575 against the US Dollar in the early American morning as the EUR/USD jumped to test the 1.3600 level. However, the pair's recovery have been contained at that level and the pair is now trading sideways around 1.3590.
Currently, EUR/USD is trading at 1.3594, flat on the day, having posted a daily high at 1.3603 and low at 1.3576. EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
EUR/USD sentiment
Jamie Coleman from FXBeat commented earlier in the day, "rebounds could be capped near 1.3610 over the next few hours as a good-sized expiry is seen at that level this morning of around EUR 650 mln."
"As for the EUR/USD hourly chart, technical readings maintain a quite neutral stance, giving no clues on upcoming direction," comments Valeria Bednarik from FXStreet. "In the 4 hours chart a mild bearish tone prevails with indicators turning now south after correcting oversold readings and price developing below its 20 SMA."
If the pair manages to break above the 1.3600, it would face resistances at 1.3610 and 1.3665. On the downside, supports are at 1.3575, 1.3560 and 1.3540.
Currently, EUR/USD is trading at 1.3594, flat on the day, having posted a daily high at 1.3603 and low at 1.3576. EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
EUR/USD sentiment
Jamie Coleman from FXBeat commented earlier in the day, "rebounds could be capped near 1.3610 over the next few hours as a good-sized expiry is seen at that level this morning of around EUR 650 mln."
"As for the EUR/USD hourly chart, technical readings maintain a quite neutral stance, giving no clues on upcoming direction," comments Valeria Bednarik from FXStreet. "In the 4 hours chart a mild bearish tone prevails with indicators turning now south after correcting oversold readings and price developing below its 20 SMA."
If the pair manages to break above the 1.3600, it would face resistances at 1.3610 and 1.3665. On the downside, supports are at 1.3575, 1.3560 and 1.3540.