30 Apr 2014
EUR/USD clings to 1.3800
FXStreet (Córdoba) - The EUR/USD is going through a consolidation phase after briefly falling below the 1.3800 mark in the wake of disappointing German retail sales.
The EUR/USD bottomed out at 1.3796 but bears lacked strength to challenge the 1.3780 support area, confining the pair to a sideways phase ahead of next potential catalyst, the Eurozone CPI figures. At time of writing, the EUR/USD is trading at 1.3806, virtually unchanged on the day.
The euro made an attempt to approach 1.3900 yesterday but was strongly rejected by the 1.3880 zone and dragged lower by disappointing German CPI data, what gives high relevance to Eurozone figures today.
EUR/USD technical levels
As for technical levels, the EUR/USD could find next supports at 1.3796 (Apr 30 low), 1.3784 (Apr 22 low) and 1.3729 (100-day SMA). On the other hand, resistances are seen at 1.3814 (Apr 30 high), 1.3878 (Apr 28 & 29 highs) and 1.3900 (psychological level).
The EUR/USD bottomed out at 1.3796 but bears lacked strength to challenge the 1.3780 support area, confining the pair to a sideways phase ahead of next potential catalyst, the Eurozone CPI figures. At time of writing, the EUR/USD is trading at 1.3806, virtually unchanged on the day.
The euro made an attempt to approach 1.3900 yesterday but was strongly rejected by the 1.3880 zone and dragged lower by disappointing German CPI data, what gives high relevance to Eurozone figures today.
EUR/USD technical levels
As for technical levels, the EUR/USD could find next supports at 1.3796 (Apr 30 low), 1.3784 (Apr 22 low) and 1.3729 (100-day SMA). On the other hand, resistances are seen at 1.3814 (Apr 30 high), 1.3878 (Apr 28 & 29 highs) and 1.3900 (psychological level).