21 Jul 2014
EUR/USD hovering around 1.3520
FXStreet (Córdoba) - The EUR/USD is about to end Monday flat, around the same trading area it closed yesterday after moving during all the American session in a small trading range between 1.3512 and 1.3525.
The pair peaked at 1.3548 at the beginning of the European session but failed to hold and pulled back, erasing gains. In the last hours price remained steady, moving around 1.3520 on a quiet Monday across the forex market.
EUR/USD technical perspective
Monday has ended up pretty much as it started across the forex board, with volume reduced to a minimum on summer vacations and no data to drive majors. As for the EUR/USD the pair continued trading at the lower end of its recent range, having posted a short lived intraday spike of 1.3548 and a daily low of 1.3512.
“Technically the hourly chart shows price developing below moving averages, with 100 one now around 1.3535 static resistance, and reinforcing the strength of the level, as price stands below a flat 20 SMA a few pips below”, says Valeria Bednarik, Chief Analyst at FXStreet.
In the 4-hour chart Bednarik also see a mild bearish tone, “yet some follow through below 1.3510 is required to see an extension towards 1.3476 this year low”.
The pair peaked at 1.3548 at the beginning of the European session but failed to hold and pulled back, erasing gains. In the last hours price remained steady, moving around 1.3520 on a quiet Monday across the forex market.
EUR/USD technical perspective
Monday has ended up pretty much as it started across the forex board, with volume reduced to a minimum on summer vacations and no data to drive majors. As for the EUR/USD the pair continued trading at the lower end of its recent range, having posted a short lived intraday spike of 1.3548 and a daily low of 1.3512.
“Technically the hourly chart shows price developing below moving averages, with 100 one now around 1.3535 static resistance, and reinforcing the strength of the level, as price stands below a flat 20 SMA a few pips below”, says Valeria Bednarik, Chief Analyst at FXStreet.
In the 4-hour chart Bednarik also see a mild bearish tone, “yet some follow through below 1.3510 is required to see an extension towards 1.3476 this year low”.