OctaFX | OctaFX Forex Broker
Sign in
Open account
Back

EUR/USD falls back below 1.3400

FXStreet (Córdoba) - The EUR/USD is slowly retreating during the European session, as the pair continues to correct Friday’s rally.

Despite geopolitical concerns might seem to have eased and equities are covering ground, sentiment remains fragile. The euro is underperforming today, not only sliding back below 1.3400 against the dollar but also falling versus the pound, the franc and the yen.

At time of writing, the EUR/USD is trading at the 1.3385 zone, down 0.19% on the day. In the absence of economic data scheduled for today, the pair might follow technicals and broad sentiment.

EUR/USD technical levels

As for technical levels, on the downside immediate supports are seen at 1.3343 (Aug 8 low), 1.3332 (2014 low Aug 6) and 1.3317 (Nov 8 2013 low). On the other hand, resistances could be found at 1.3432 (Aug 8 high), 1.3452 (21-day SMA) and 1.3475 (Jul 25 high).

US growth rates likely coming closer to 3% for the remainder of the year - ING

Rob Carnell from ING takes a look at the current state of the US economy and suggests that despite some data disappointments in the first quarter, growth is seen picking up and it is possible that it will reach 3% for the entire year.
Read more Previous

SEB: A confirmed EUR/USD bull divergence - eFXnews

The eFXnews team note that SEB points to EUR/USD's rise to the significant resistance area of 1.3445 on Friday.
Read more Next
Start livechat