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3 Jun 2014
EUR/USD rejects the 1.3645 area
FXStreet (San Francisco) - The Euro's recovery from 1.3585 found resistance at 1.3650 where the EUR/USD got a rejection and now it is trading back at 1.3625.
According to Jamie Coleman from FXBeat, the EUR/USD is backing away after 200-day average caps again: "EUR/USD remains in its very orderly downtrend but moving slowly enough to work off oversold conditions without rallying. A classic consolidation."
Currently, EUR/USD is trading at 1.3628, up 0.23% on the day, having posted a daily high at 1.3648 and low at 1.3586. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
EUR/USD sentiment
If the pair consolidates gains above the 1.3645 (200-day SMA), it would open the way to 1.3670 (May 27 high) and 1.3690 (May 22 high) en route to 1.3700 (psychological level). On the downside, supports are seen at 1.3585 (May 29 low), 1.3561 (Feb 12 low).
According to Jamie Coleman from FXBeat, the EUR/USD is backing away after 200-day average caps again: "EUR/USD remains in its very orderly downtrend but moving slowly enough to work off oversold conditions without rallying. A classic consolidation."
Currently, EUR/USD is trading at 1.3628, up 0.23% on the day, having posted a daily high at 1.3648 and low at 1.3586. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
EUR/USD sentiment
If the pair consolidates gains above the 1.3645 (200-day SMA), it would open the way to 1.3670 (May 27 high) and 1.3690 (May 22 high) en route to 1.3700 (psychological level). On the downside, supports are seen at 1.3585 (May 29 low), 1.3561 (Feb 12 low).