21 Jan 2014
EUR/USD trims daily losses
FXstreet.com (Córdoba) - The EUR/USD recovered from daily lows at the beginning of the American session as the greenback loses momentum across the board.
The EUR/USD bounced off a low of 1.3516, trimming intraday losses to currently trade at the 1.3540 region, just a few pips below its opening price. Wall Street reopens today after the long weekend, with US futures pointing higher, supporting EUR/USD recovery.
EUR/USD technical outlook
From a technical view, Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD holds a negative tone in short-term charts. "Today's low (1.3516) comes as immediate support and if broken, the downside is exposed towards 1.3440 strong static support zone", Bednarik said.
The analyst locates next supports at 1.3505, 1.3485 and 1.3440, while resistances are seen at 1.3560, 1.3600 and 1.3630.
The EUR/USD bounced off a low of 1.3516, trimming intraday losses to currently trade at the 1.3540 region, just a few pips below its opening price. Wall Street reopens today after the long weekend, with US futures pointing higher, supporting EUR/USD recovery.
EUR/USD technical outlook
From a technical view, Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD holds a negative tone in short-term charts. "Today's low (1.3516) comes as immediate support and if broken, the downside is exposed towards 1.3440 strong static support zone", Bednarik said.
The analyst locates next supports at 1.3505, 1.3485 and 1.3440, while resistances are seen at 1.3560, 1.3600 and 1.3630.