Back
12 Aug 2013
EUR/USD holding above 1.3320 despite USD strength
FXstreet.com (Barcelona) - The EUR/USD foreign exchange rate is last trading at 1.3321 falling for second time to session lows marginally above the 1.3220 mark, following Japan PM Abe comments on Japanese economy improving.
EUR/USD maintains a short term bearish tone
According to Valeria Bednarik, Chief Analyst at Fxstreet.com the EUR/USD hourly chart maintains “a bearish tone, as per price below a bearish 20 SMA and indicators steady near oversold territory. In the 4 hours chart momentum approaches 100 as price develops below 20 SMA, also supporting a bearish continuation: price needs to break below 1.3310 however, to confirm the downward continuation.”
EUR/USD key technical levels
Bednarik locates support levels at:1.3310, 1.3275 and 1.3240; while resistance levels at: 1.3375, 1.3415 and 1.3445.
EUR/USD maintains a short term bearish tone
According to Valeria Bednarik, Chief Analyst at Fxstreet.com the EUR/USD hourly chart maintains “a bearish tone, as per price below a bearish 20 SMA and indicators steady near oversold territory. In the 4 hours chart momentum approaches 100 as price develops below 20 SMA, also supporting a bearish continuation: price needs to break below 1.3310 however, to confirm the downward continuation.”
EUR/USD key technical levels
Bednarik locates support levels at:1.3310, 1.3275 and 1.3240; while resistance levels at: 1.3375, 1.3415 and 1.3445.