14 Apr 2014
EUR/USD consolidates at lows
FXStreet (Córdoba) - FXStreet (Córdoba) - The EUR/USD entered a consolidation phase near daily lows as solid US data dragged the pair to post-FOMC minutes lows.
The EUR/USD gapped lower at the weekly opening and has continued to move south weighed by Draghi's comments over the weekend. The pair posted a 5-day low of 1.3807 in recent dealings and it is currently trading at 1.3815, recording a 0.48% loss on the day, having lost nearly 100 pips from Friday's 1-month peak.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that short-term readings stand in negative territory. "A break below the daily low may see the pair extending its slide, albeit buyers will likely surge on approaches to 1.3780 static support".
Bednarik locates next support levels at 1.3810, 1.3780 and 1.3750, while she sees resistances at 1.3850, 1.3890 and 1.3920.
The EUR/USD gapped lower at the weekly opening and has continued to move south weighed by Draghi's comments over the weekend. The pair posted a 5-day low of 1.3807 in recent dealings and it is currently trading at 1.3815, recording a 0.48% loss on the day, having lost nearly 100 pips from Friday's 1-month peak.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that short-term readings stand in negative territory. "A break below the daily low may see the pair extending its slide, albeit buyers will likely surge on approaches to 1.3780 static support".
Bednarik locates next support levels at 1.3810, 1.3780 and 1.3750, while she sees resistances at 1.3850, 1.3890 and 1.3920.