27 Dec 2013
EUR/USD extends decline below 1.3750
FXstreet.com (San Francisco) - The Euro is extending its decline against the USD after reaching 2-year high at 1.3892 in the European session. Now the EUR/USD is breaking down the 1.3750 area.
Currently, the EUR/USD is trading at 1.3735, still 0.32% positive on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Despite the recent pullback, the EUR/USD is on track to post a weekly advance following the previous week decline that halted a 5-week winning streak. AllThingsForex's analyst Ilian Yotov commented in the Forecast Poll: "With the Fed finally taking the first step toward monetary policy tightening, we may see a gradual reversal of the euro's bullish trend since November."
EUR/USD levels
The EUR/USD would face supports at 1.3710, 1.3700 and 1.3675. On the upside, resistances are at 1.3775, 1.3810 and 1.3900.
Currently, the EUR/USD is trading at 1.3735, still 0.32% positive on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Despite the recent pullback, the EUR/USD is on track to post a weekly advance following the previous week decline that halted a 5-week winning streak. AllThingsForex's analyst Ilian Yotov commented in the Forecast Poll: "With the Fed finally taking the first step toward monetary policy tightening, we may see a gradual reversal of the euro's bullish trend since November."
EUR/USD levels
The EUR/USD would face supports at 1.3710, 1.3700 and 1.3675. On the upside, resistances are at 1.3775, 1.3810 and 1.3900.