9 Oct 2013
EUR/USD holds above 1.3500, for now
FXstreet.com (Córdoba) - The EUR/USD extended its decline and tested the 1.3500 mark at the beginning of the New York session as American traders join the dollar buying wave.
The EUR/USD hit a low of 1.3500 so far, but investors seem unwilling to give up on the shared currency just yet, as bids reappeared at the psychological level. At time of writing, EUR/USD is trading at the 1.3510 zone, where it records a 0.4% loss on the day.
EUR/USD technical perspective
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD holds a bearish tone in short-term charts, poised to test strong static support around 1.3460. The analyst places immediate support levels at 1.3490, 1.3460 and 1.3420, while she sees resistances at 1.3535 and 1.3580 followed by 1.3620.
The EUR/USD hit a low of 1.3500 so far, but investors seem unwilling to give up on the shared currency just yet, as bids reappeared at the psychological level. At time of writing, EUR/USD is trading at the 1.3510 zone, where it records a 0.4% loss on the day.
EUR/USD technical perspective
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD holds a bearish tone in short-term charts, poised to test strong static support around 1.3460. The analyst places immediate support levels at 1.3490, 1.3460 and 1.3420, while she sees resistances at 1.3535 and 1.3580 followed by 1.3620.