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Sep 15, 2014
EUR/USD slides back to 1.2935 with a slap
FXStreet (Guatemala) - Currently, EUR/USD is trading at 1.2935, down -having posted a daily high at 1.2974 and low at 1.2909.
EUR/USD has taken a slap and now trades sub 1.2940 on dollar strength across the board. The Euro has been a poor performer since Friday’ close and continuing on with daily bear trend set just shy from the psychological 1.40 land mark from business conducted earlier this year in August. Pressures continue to weigh to the downside post the recent ECB move and event risk this week is significant with German economic sentiment in the ZEW survey’s as well as EZ and USA CPI numbers. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said that this week should provide the catalyst for EUR’s next move. “EUR/USD short‐term technical are bearish”.
EUR/USD near term levels
Spot is presently trading at 1.2935, and next resistance can be seen at 1.2951 (Daily Classic PP), 1.2964 (Weekly High), 1.2966 (Hourly 200 SMA). Support below can be found here at 1.2934 (Weekly Classic PP), 1.2928 (Hourly 100 SMA), 1.2922 (Daily Classic S1) and 1.2909.
EUR/USD has taken a slap and now trades sub 1.2940 on dollar strength across the board. The Euro has been a poor performer since Friday’ close and continuing on with daily bear trend set just shy from the psychological 1.40 land mark from business conducted earlier this year in August. Pressures continue to weigh to the downside post the recent ECB move and event risk this week is significant with German economic sentiment in the ZEW survey’s as well as EZ and USA CPI numbers. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said that this week should provide the catalyst for EUR’s next move. “EUR/USD short‐term technical are bearish”.
EUR/USD near term levels
Spot is presently trading at 1.2935, and next resistance can be seen at 1.2951 (Daily Classic PP), 1.2964 (Weekly High), 1.2966 (Hourly 200 SMA). Support below can be found here at 1.2934 (Weekly Classic PP), 1.2928 (Hourly 100 SMA), 1.2922 (Daily Classic S1) and 1.2909.