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2 Jun 2014
EUR/USD pulls back to 1.3600
FXStreet (Córdoba) - The EUR/USD bottomed on European hours at 1.3592 after the release of economic data from the Eurozone, afterwards rebounded and trimm losses rising above 1.3600. The recovery found resistance below 1.3630 and the Euro turned to the downside, weakened by the release of inflation numbers from Germany.
Currently trades at 1.3604, down 0.23% for the day, at the lowest level since the beginning of the American session.
EUR/USD technical outlook
The EUR/USD remains trading in these last days range maintaining lack of short term direction, notes Valeria Bednarik, Chief Analyst at FXStreet.
“The hourly chart shows price stalling around a bearish 20 SMA but aiming higher, while indicators stand in neutral territory. In the 4 hours chart however indicators turned lower around their midlines while price moves back and forth around its 20 SMA”, says Bednarik.
Currently trades at 1.3604, down 0.23% for the day, at the lowest level since the beginning of the American session.
EUR/USD technical outlook
The EUR/USD remains trading in these last days range maintaining lack of short term direction, notes Valeria Bednarik, Chief Analyst at FXStreet.
“The hourly chart shows price stalling around a bearish 20 SMA but aiming higher, while indicators stand in neutral territory. In the 4 hours chart however indicators turned lower around their midlines while price moves back and forth around its 20 SMA”, says Bednarik.