23 Apr 2014
EUR/USD deepens the correction
FXStreet (Córdoba) - Following a short-lived spike in the wake of US new home sales drop, the EUR/USD turned back south and resumed its correction from weekly highs.
The EUR/USD is on the retreat after hitting a high of 1.3854 underpinned by solid Eurozone data. However, the setback has been contained by the 1.3810 area so far, giving the EUR/USD a 0.09% daily gain.
EUR/USD levels to watch
In terms of technical levels, if the EUR/USD loses the 1.3810 zone, next supports are seen at 1.3800 (psychological level/Apr 23 low), 1.3793 (20- and 50-day SMA crossover) and 1.3779 (Apr 9 low). On the flip side, resistances are seen at 1.3854 (Apr 23 high), 1.3864 (Apr 17 high) and 1.3880 (Apr 11 closing price).
The EUR/USD is on the retreat after hitting a high of 1.3854 underpinned by solid Eurozone data. However, the setback has been contained by the 1.3810 area so far, giving the EUR/USD a 0.09% daily gain.
EUR/USD levels to watch
In terms of technical levels, if the EUR/USD loses the 1.3810 zone, next supports are seen at 1.3800 (psychological level/Apr 23 low), 1.3793 (20- and 50-day SMA crossover) and 1.3779 (Apr 9 low). On the flip side, resistances are seen at 1.3854 (Apr 23 high), 1.3864 (Apr 17 high) and 1.3880 (Apr 11 closing price).