24 Jun 2014
EUR/USD building bids towards 1.3680?
FXStreet (Guatemala) - Currently, EUR/USD is trading at 1.3594, down -0.07% on the day, having posted a daily high at 1.3629 and low at 1.3583.
EUR/USD has reversed the previous challenge lower which threatened the 1.36 handle that marked a low in fact of 1.3583. The Market Strategy Team at UOB Group explained that the current movements are likely part of a short-term consolidation phase which should eventually lead to another leg higher towards the strong resistant at 1.3680. “1.3560 is a solid short-term support but only a break below the key support at 1.3530 would indicate a retest of the critical mid -term support at 1.3500/05."
EUR/USD Levels
Current price is 1.3595, with resistance ahead at 1.3597 (Daily Classic PP), 1.3600 (Hourly 100 SMA), 1.3604 (Hourly 20 EMA), 1.3605 (Daily Open) and 1.3607 (Weekly High). Next support to the downside can be found at 1.3585 (Weekly Classic PP), 1.3583 (Daily Low), 1.3580 (Daily Classic S1), 1.3575 (Hourly 200 SMA) and 1.3574 (Yesterday's Low).
EUR/USD has reversed the previous challenge lower which threatened the 1.36 handle that marked a low in fact of 1.3583. The Market Strategy Team at UOB Group explained that the current movements are likely part of a short-term consolidation phase which should eventually lead to another leg higher towards the strong resistant at 1.3680. “1.3560 is a solid short-term support but only a break below the key support at 1.3530 would indicate a retest of the critical mid -term support at 1.3500/05."
EUR/USD Levels
Current price is 1.3595, with resistance ahead at 1.3597 (Daily Classic PP), 1.3600 (Hourly 100 SMA), 1.3604 (Hourly 20 EMA), 1.3605 (Daily Open) and 1.3607 (Weekly High). Next support to the downside can be found at 1.3585 (Weekly Classic PP), 1.3583 (Daily Low), 1.3580 (Daily Classic S1), 1.3575 (Hourly 200 SMA) and 1.3574 (Yesterday's Low).