21 Nov 2013
EUR/USD retests weekly lows at 1.3415
FXstreet.com (Chicago) - EUR/USD continues under high bearish pressure and revisits weekly lows around the support at 1.3416.
EUR/USD Technical Levels
Price action reveals the pair went through a strong plunge falling from the 1.3545 front shortly after the FOMC published its minutes – with no major surprises. Offered at 1.3426, the pair oscillates between the supports aligned at 1.3416 (November 14th lows), 1.3360 (November 12th lows) followed by 1.33 (November 7th lows) and the resistances set at 1.3458 (November 12th highs), 1.3496 (November 13th highs) ahead of 1.3542 (November 18th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and remains under the EMA20. Later today, manufacturing data is expected in Europe while the US awaits for job market results along the PPI series.
EUR/USD Technical Levels
Price action reveals the pair went through a strong plunge falling from the 1.3545 front shortly after the FOMC published its minutes – with no major surprises. Offered at 1.3426, the pair oscillates between the supports aligned at 1.3416 (November 14th lows), 1.3360 (November 12th lows) followed by 1.33 (November 7th lows) and the resistances set at 1.3458 (November 12th highs), 1.3496 (November 13th highs) ahead of 1.3542 (November 18th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and remains under the EMA20. Later today, manufacturing data is expected in Europe while the US awaits for job market results along the PPI series.