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11 Aug 2014
EUR/USD falls back below 1.3400
FXStreet (Córdoba) - The EUR/USD is slowly retreating during the European session, as the pair continues to correct Friday’s rally.
Despite geopolitical concerns might seem to have eased and equities are covering ground, sentiment remains fragile. The euro is underperforming today, not only sliding back below 1.3400 against the dollar but also falling versus the pound, the franc and the yen.
At time of writing, the EUR/USD is trading at the 1.3385 zone, down 0.19% on the day. In the absence of economic data scheduled for today, the pair might follow technicals and broad sentiment.
EUR/USD technical levels
As for technical levels, on the downside immediate supports are seen at 1.3343 (Aug 8 low), 1.3332 (2014 low Aug 6) and 1.3317 (Nov 8 2013 low). On the other hand, resistances could be found at 1.3432 (Aug 8 high), 1.3452 (21-day SMA) and 1.3475 (Jul 25 high).
Despite geopolitical concerns might seem to have eased and equities are covering ground, sentiment remains fragile. The euro is underperforming today, not only sliding back below 1.3400 against the dollar but also falling versus the pound, the franc and the yen.
At time of writing, the EUR/USD is trading at the 1.3385 zone, down 0.19% on the day. In the absence of economic data scheduled for today, the pair might follow technicals and broad sentiment.
EUR/USD technical levels
As for technical levels, on the downside immediate supports are seen at 1.3343 (Aug 8 low), 1.3332 (2014 low Aug 6) and 1.3317 (Nov 8 2013 low). On the other hand, resistances could be found at 1.3432 (Aug 8 high), 1.3452 (21-day SMA) and 1.3475 (Jul 25 high).