9 Oct 2013
EUR/USD finds support at 1.3515
FXstreet.com (Córdoba) - The EUR/USD came under pressure Wednesday and finally broke below this week's range bottom to hit fresh lows during the European trade.
EUR/USD breaks below 200-hour SMA
The break below the 200-hour SMA, which had contained the downside over the last days, and subsequently the 1.3540 zone was followed by a selloff that extended to fresh weekly lows at the 1.3515 area.
However, the pair managed to recover slightly, supported by above expectations German industrial production data, and it was last around 1.3535, still 0.2% below its opening price. Despite intraday volatility, the EUR/USD remains well within its post-FOMC range, that has been roughly 1.3450-1.3650.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find next support levels at 1.3515 (daily low), 1.3490 (20-day SMA) and 1.3460 (Sep 25 low). On the flip side, resistances are seen at 1.3557 (200-hour SMA) and 1.3600/05 (psychological level/daily high).
EUR/USD breaks below 200-hour SMA
The break below the 200-hour SMA, which had contained the downside over the last days, and subsequently the 1.3540 zone was followed by a selloff that extended to fresh weekly lows at the 1.3515 area.
However, the pair managed to recover slightly, supported by above expectations German industrial production data, and it was last around 1.3535, still 0.2% below its opening price. Despite intraday volatility, the EUR/USD remains well within its post-FOMC range, that has been roughly 1.3450-1.3650.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find next support levels at 1.3515 (daily low), 1.3490 (20-day SMA) and 1.3460 (Sep 25 low). On the flip side, resistances are seen at 1.3557 (200-hour SMA) and 1.3600/05 (psychological level/daily high).