21 Jul 2014
EUR/USD holds above 1.3500
FXStreet (Córdoba) - The EUR/USD, as most pairs in the FX market, has had a quiet day with little economic data to impact markets.
The EUR/USD climbed to a high of 1.3548 at the beginning of the European session but failed to sustain gains and slowly slid back to the 1.3510 zone, where the pullback was contained.
The EUR/USD still looks vulnerable after piercing the 1.3500 level for first time in 5 months Friday, falling to a low of 1.3490 before bouncing to close the week at the 1.3520 area. At time of writing, the pair is trading at 1.3515, virtually unchanged on the day.
EUR/USD technical perspective
“The EUR/USD still looks heavy considering it trades a handful of pips above the year low of 1.3476, but the short term outlook remains neutral, with the hourly chart showing price below a flat 20 SMA and indicators horizontal in neutral territory”, said Valeria Bednarik, chief analyst at FXStreet.
Bednarik locates next supports at 1.3510, 1.3476 and 1.3440. On the other hand, resistances are seen at 1.3535, 1.3570 and 1.3620.
The EUR/USD climbed to a high of 1.3548 at the beginning of the European session but failed to sustain gains and slowly slid back to the 1.3510 zone, where the pullback was contained.
The EUR/USD still looks vulnerable after piercing the 1.3500 level for first time in 5 months Friday, falling to a low of 1.3490 before bouncing to close the week at the 1.3520 area. At time of writing, the pair is trading at 1.3515, virtually unchanged on the day.
EUR/USD technical perspective
“The EUR/USD still looks heavy considering it trades a handful of pips above the year low of 1.3476, but the short term outlook remains neutral, with the hourly chart showing price below a flat 20 SMA and indicators horizontal in neutral territory”, said Valeria Bednarik, chief analyst at FXStreet.
Bednarik locates next supports at 1.3510, 1.3476 and 1.3440. On the other hand, resistances are seen at 1.3535, 1.3570 and 1.3620.