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FXStreet (Moscow) - EUR/USD retraced from the Asian high of 1.3548 and touched the low of 1.3521 as the bears try to settle below 1.3530 support.
EUR/USD is groping for support
It seems that three bearish days in a row is not a limit for EUR/USD as the pair continues to move down early in Asia. European macroeconomic calendar is next to empty today so we have little to chew on. Technical factors are on the bearish side, as EUR/USD is testing waters below 1.3530 support. Once it is clearly broken, 1.3500 will come into sight. This pivotal support with strong bids on approach is likely to stop the short-term downside, while the bullish correction might be limited by 1.3550.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3561, with support below at 1.3518, 1.3490 and 1.3447, with resistance above at 1.3589, 1.3632, and 1.3660. Hourly Moving Averages are bearish, with the 200SMA at 1.3615 and the daily 20EMA at 1.3651. Hourly RSI is bearish at 27.
11 Jun 2014
Will EUR/USD find a floor at 1.3500?
FXStreet (Moscow) - EUR/USD retraced from the Asian high of 1.3548 and touched the low of 1.3521 as the bears try to settle below 1.3530 support.
EUR/USD is groping for support
It seems that three bearish days in a row is not a limit for EUR/USD as the pair continues to move down early in Asia. European macroeconomic calendar is next to empty today so we have little to chew on. Technical factors are on the bearish side, as EUR/USD is testing waters below 1.3530 support. Once it is clearly broken, 1.3500 will come into sight. This pivotal support with strong bids on approach is likely to stop the short-term downside, while the bullish correction might be limited by 1.3550.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3561, with support below at 1.3518, 1.3490 and 1.3447, with resistance above at 1.3589, 1.3632, and 1.3660. Hourly Moving Averages are bearish, with the 200SMA at 1.3615 and the daily 20EMA at 1.3651. Hourly RSI is bearish at 27.