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EUR/USD walking on thin ice

FXStreet (Córdoba) - The EUR/USD remains under pressure near 1-week lows despite the positive mood surrounding financial markets.

The EUR/USD broke below the 1.3350 leven and slid to a low of 1.3342 at the beginning of the European trade, matching Aug 13 low, and bouncing just a few pips above 2014 lows. The euro managed to crawl back to the 1.3350 zone, where it is currently trading, 0.10% below its opening price, although it remains quite vulnerable.

The Eurozone calendar was pretty light with only June current account figures released, although activity might pick up during the New York session as the US will publish July consumer price index and housing starts. Still main focus remains on Wednesday Fed minutes and Janet Yellen's speech in Jackson Hole, Wyoming at the end of the week.

EUR/USD technical outlook

"Although the intraday bias is undoubtedly bearish, only a clear break through 1.3300 will signal renewal of the general downtrend towards 1.3220 and 1.3090", said Stoyan Mihaylov, analyst at DeltaStock.com. "For now, there is a risk of one more upswing towards 1.3445 resistance area".

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