24 Jul 2014
EUR/USD surrenders gains
FXStreet (Córdoba) - The recovery of the EUR/USD faltered at the 1.3485 area with the pair returning to opening levels.
The euro benefited from better-than-expected German and Eurozone PMI data and reached a 2-day high of 1.3484, but failed to sustain gains and pulled back to the flat line as the greenback strengthened in the wake of better-than-expected jobless claims data.
At time of writing, the EUR/USD is trading at 1.3465, virtually unchanged since opening. Despite today’s recovery, the pair remains vulnerable, having printed a fresh 8-month low of 1.3437 earlier on the day.
EUR/USD technical perspective
"As long as below the 1.3500 level, the pair remains exposed to the downside despite the tedious lack of strength", said Valeria Bednarik, chief analyst at FXStreet, who locates next support levels at 1.3445, 1.3410 and 1.3380, while she sees resistances at 1.3500 ,1.3535 and 1.3570.
The euro benefited from better-than-expected German and Eurozone PMI data and reached a 2-day high of 1.3484, but failed to sustain gains and pulled back to the flat line as the greenback strengthened in the wake of better-than-expected jobless claims data.
At time of writing, the EUR/USD is trading at 1.3465, virtually unchanged since opening. Despite today’s recovery, the pair remains vulnerable, having printed a fresh 8-month low of 1.3437 earlier on the day.
EUR/USD technical perspective
"As long as below the 1.3500 level, the pair remains exposed to the downside despite the tedious lack of strength", said Valeria Bednarik, chief analyst at FXStreet, who locates next support levels at 1.3445, 1.3410 and 1.3380, while she sees resistances at 1.3500 ,1.3535 and 1.3570.