17 Jul 2014
EUR/USD consolidating in a tight range - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD remained little moved during the last 24 hours, floating above the weekly low of 1.3520.
Key quotes
"The hourly chart shows price hovering around a flat 20 SMA while indicators stand around their midlines, giving little idea of what’s next for the pair."
"US yields down are putting the greenback under some pressure across the board, but for the most, ranges prevail."
"In the 4 hours chart indicators point to correct extreme oversold readings, looking for a probable test of the 1.3570 strong static resistance zone."
"Failure to advance however, exposes the year low of 1.3476, still a probable target for the upcoming sessions."
Key quotes
"The hourly chart shows price hovering around a flat 20 SMA while indicators stand around their midlines, giving little idea of what’s next for the pair."
"US yields down are putting the greenback under some pressure across the board, but for the most, ranges prevail."
"In the 4 hours chart indicators point to correct extreme oversold readings, looking for a probable test of the 1.3570 strong static resistance zone."
"Failure to advance however, exposes the year low of 1.3476, still a probable target for the upcoming sessions."