28 Jul 2014
EUR/USD takes a breather above 1.3400
FXStreet (Córdoba) - The EUR/USD has only traded within a narrow range Monday, taking a breather above the 1.3400 level following 2 weeks of losses.
Divergent ECB and Fed policies along with softening economic data from the Eurozone are taking their toll on the euro, which has lost nearly 3 big figures throughout the month. However, the EUR/USD has managed to pause ahead of 1.3400 as investors await a bunch of economic indicators the Fed policy meeting and the US nonfarm payrolls later this week.
At time of writing, the EUR/USD is trading at 1.3438, 0.06% above its opening price, having scored a daily high of 1.3441 in recent dealings.
EUR/USD technical levels
In terms of technical levels, short-term resistances are seen at 1.3475 (Jul 25 high), 1.3490 (10-day SMA) and 1.3500 (psychological level). On the other hand, supports could be found at 1.3420 (2014 low Jul 25), 13400/1.3399 (psychological level/Nov 21 2013 low) and 1.3390 (Nov 13 2013 low).
Divergent ECB and Fed policies along with softening economic data from the Eurozone are taking their toll on the euro, which has lost nearly 3 big figures throughout the month. However, the EUR/USD has managed to pause ahead of 1.3400 as investors await a bunch of economic indicators the Fed policy meeting and the US nonfarm payrolls later this week.
At time of writing, the EUR/USD is trading at 1.3438, 0.06% above its opening price, having scored a daily high of 1.3441 in recent dealings.
EUR/USD technical levels
In terms of technical levels, short-term resistances are seen at 1.3475 (Jul 25 high), 1.3490 (10-day SMA) and 1.3500 (psychological level). On the other hand, supports could be found at 1.3420 (2014 low Jul 25), 13400/1.3399 (psychological level/Nov 21 2013 low) and 1.3390 (Nov 13 2013 low).