EUR/USD attempts for 1.30 so far failing

FXStreet (Guatemala) - EUR/USD is trading at 1.2961, up 0.16% on the day, having posted a daily high at 1.2996 and low at 1.2922.

EUR/USD is changing hands at a support zone here after a turbulent moment in US markets earlier on with the news around China putting up 500B Yuan into the banking system which left the dollar behind by a long stretch. For now, as Valeria Bednarik, chief analyst at FXStreet explained, in the short term, the hourly chart shows price a few pips above its moving averages, with 20, 100 and 200 SMAs converging in a 10 pips range, reflecting the lack of direction the pair has these days, while indicators stand above their midlines. “In the 4 hours chart technical readings present a mild positive tone yet right now, upcoming direction depends purely on FED’s wording. Taking a look at bigger time frames, the ongoing range suggest the pair is trying to bottom yet a daily close after FED well into 1.30 is required to confirm so”.

EUR/USD support and resistance

Support levels: 1.2950 1.2910 1.2870

Resistance levels: 1.2990 1.3045 1.3080