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EUR/USD failing on attempts higher on 1.31 handle

FXStreet (Guatemala) - EUR/USD has been failing on attempts through 1.3150.

EUR/USD is currently trading at 1.3137 after the Beige book explained that the US economy expanded in all of it’s districts. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explains that the EUR/USD short‐term technical are bearish and that most technical studies warn of further downside and the trend is strong. “The MACD has reached a new low in tandem with the currency, spot has broken several layers of support and even the RSI, at 28, is not extremely oversold”.

EUR/USD levels

The 20 DMA is 1.3281, the 50 DMA is 1.3436 and the 200 DMA is 1.3639. Supports are 1.3051, 1.3066, 1.3089, 1.3105, 1.3125, 1.3146, 1.3161, 1.3198 and 1.3222.

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