Back
5 Aug 2014
EUR/USD falls to test 1.3400
FXStreet (Córdoba) - The EUR/USD came under pressure and broke its past session’s and fell to the 1.3400 area in anticipation to the release of German and Eurozone services PMI.
The decline was tempered as data came in mixed, with the German PMI slightly above expectations, 56.7 vs 56.6, while for the Eurozone as a whole readings were slightly below forecast, 54.2 vs 54.4.
The EUR/USD tested the 1.3400 mark and scored a 4-day low before quickly bouncing to the 1.3410 area, where it is trading, still 0.07% below its opening price.
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find next supports at 1.3400 (psychological level), 1.3378 (Aug 1 low) and 1.3366 (Jul 30 low). On the other hand, resistances are seen at 1.3425 (10-day SMA), 1.3444 (Aug 1 high) y 1.3475 (Jul 25 high).
The decline was tempered as data came in mixed, with the German PMI slightly above expectations, 56.7 vs 56.6, while for the Eurozone as a whole readings were slightly below forecast, 54.2 vs 54.4.
The EUR/USD tested the 1.3400 mark and scored a 4-day low before quickly bouncing to the 1.3410 area, where it is trading, still 0.07% below its opening price.
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find next supports at 1.3400 (psychological level), 1.3378 (Aug 1 low) and 1.3366 (Jul 30 low). On the other hand, resistances are seen at 1.3425 (10-day SMA), 1.3444 (Aug 1 high) y 1.3475 (Jul 25 high).