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13 Aug 2014
EUR/USD fails to sustain gains and turns south
FXStreet (Córdoba) - The EUR/USD made an upside attempt at the beginning of the European session, underpinned by in line with expectations German CPI and stocks gains, but it was firmly rejected and dipped to fresh daily lows.
A soft series of Eurozone inflation numbers may have contributed to the latest pullback in EUR/USD, although persistently low inflation figures were mainly in line with expectations.
The EUR/USD peaked at 1.3373 and came under pressure soon after, sliding all the way back to the 1.3350 zone. At time of writing, the EUR/USD is trading at 1.3353, down 0.11% on the day.
Eurozone industrial production figures are scheduled for today, although moves might be driven by the EUR/GBP as first-tier data is expected in the UK.
EUR/USD technical levels
As for technical levels, the EUR/USD could find next supports at 1.3332 (2014 low Aug 6), 1.3300/1.3295 (psychological level/Nov 7 low) and not much till the 1.3250 area (mid-September lows). On the other hand, resistances could be found at 1.3386 (10-day SMA), 1.3410 (Aug 11 high) and 1.3432 (Aug 8 high).
A soft series of Eurozone inflation numbers may have contributed to the latest pullback in EUR/USD, although persistently low inflation figures were mainly in line with expectations.
The EUR/USD peaked at 1.3373 and came under pressure soon after, sliding all the way back to the 1.3350 zone. At time of writing, the EUR/USD is trading at 1.3353, down 0.11% on the day.
Eurozone industrial production figures are scheduled for today, although moves might be driven by the EUR/GBP as first-tier data is expected in the UK.
EUR/USD technical levels
As for technical levels, the EUR/USD could find next supports at 1.3332 (2014 low Aug 6), 1.3300/1.3295 (psychological level/Nov 7 low) and not much till the 1.3250 area (mid-September lows). On the other hand, resistances could be found at 1.3386 (10-day SMA), 1.3410 (Aug 11 high) and 1.3432 (Aug 8 high).