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Forex: EUR/USD resumes the slide

After touching a 6-week low of 1.3166, the euro managed to bounce versus the dollar although the recovery was short-lived as the EUR/USD was capped by 1.3230.

The EUR/USD resumed the downside then and slid back below the 1.3200 psychological level and the ascendant trendline drawn off last July lows. At time of writing, EUR/USD is trading around 1.3190/95, recording a 0.6% daily loss.

As for technical levels, on the downside next supports are seen at 1.3166 (intraday low), 1.3110 (100-day SMA) and the 1.3070 zone (38.2% retracement of the 1.2041/1.3710 rally). On the upside, resistances could be found at 1.3230, 1.3250 (intraday level) and 1.3290 (intraday high).

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