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Aug 19, 2014
EUR/USD trading lower in range- FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that EUR/USD is trading only 20 pips above its year low on Tuesday, with the Eurozone Current Account data hardly affecting the pair.
Key quotes
"A general negative sentiment against the common currency keeps it under pressure."
"Technically, the bearish tone prevails according to the 4 hours chart, with indicators grinding lower below their midlines and price below its 20 SMA, albeit showing no strength at the time being."
"Some follow through should be expected on a break below 1.3330, looking then for a test of 1.3295, November 2013 monthly low."
"Further downward acceleration should signal a test of next support, in the 1.3250 price zone, while the upside is now being limited by a static resistance around 1.3375."
Key quotes
"A general negative sentiment against the common currency keeps it under pressure."
"Technically, the bearish tone prevails according to the 4 hours chart, with indicators grinding lower below their midlines and price below its 20 SMA, albeit showing no strength at the time being."
"Some follow through should be expected on a break below 1.3330, looking then for a test of 1.3295, November 2013 monthly low."
"Further downward acceleration should signal a test of next support, in the 1.3250 price zone, while the upside is now being limited by a static resistance around 1.3375."