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10 Jun 2014
EUR/USD under pressure amid lack of market moving data - FXStreet
FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik points out that investors concentrate currently on bond markets, as after the last ECB meeting local yields can’t stop falling, some paying even less that US ones, currently rising near 2.5%, while the EUR/USD remains under pressure, trading at its lowest level in three days.
Key quotes
“The hourly chart shows a strong bearish acceleration sent indicators to oversold levels where it stand, while 20 SMA gain a strong bearish slope offering now resistance around critical 1.3570 price zone.”
“The 4 hours chart shows also a strong bearish momentum, with indicators finally moving away from neutral readings."
"1.3520 comes as immediate support, and once broken, the pair has room to extend down to 1.3476, this year low.”
Key quotes
“The hourly chart shows a strong bearish acceleration sent indicators to oversold levels where it stand, while 20 SMA gain a strong bearish slope offering now resistance around critical 1.3570 price zone.”
“The 4 hours chart shows also a strong bearish momentum, with indicators finally moving away from neutral readings."
"1.3520 comes as immediate support, and once broken, the pair has room to extend down to 1.3476, this year low.”