5 Nov 2013
EUR/USD hits daily lows
FXstreet.com (Córdoba) - The EUR/USD fell to a marginal new low during the American session but remained well within this week's range.
The EUR/USD hit a low of 1.3460 in recent dealings but the USD quickly lost momentum and stalled ahead of yesterday's low of 1.3440. The pair has recovered slightly from lows and it is currently trading at the 1.3470 zone, recording a 0.3% loss on the day.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com noted that short-term charts hold a negative perspective with 1.3520 as key resistance level to beat in order to ease immediate bearish pressure. "Central Banks authorities' comments had helped dollar advance some ahead of US opening, as ECB Draghi failed to give some tips of upcoming movements, while FED members continue to jawbone about tapering".
As for technical levels, Bednarik sees immediate supports at 1.3450, 1.3415 and 1.3370, while she places resistances at 1.3520, 1.3550 and 1.3580.
The EUR/USD hit a low of 1.3460 in recent dealings but the USD quickly lost momentum and stalled ahead of yesterday's low of 1.3440. The pair has recovered slightly from lows and it is currently trading at the 1.3470 zone, recording a 0.3% loss on the day.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com noted that short-term charts hold a negative perspective with 1.3520 as key resistance level to beat in order to ease immediate bearish pressure. "Central Banks authorities' comments had helped dollar advance some ahead of US opening, as ECB Draghi failed to give some tips of upcoming movements, while FED members continue to jawbone about tapering".
As for technical levels, Bednarik sees immediate supports at 1.3450, 1.3415 and 1.3370, while she places resistances at 1.3520, 1.3550 and 1.3580.