17 Jul 2014
EUR/USD holds ground after CPI data - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the June Eurozone CPI numbers, which came in broady in line with projections, helped the euro to keep ground.
Key quotes
"Little has done the EUR/USD over past Asian session, having trade since the day started in a tight 20 pips range."
"The 4 hours chart shows indicators remain in oversold territory, with RSI turning slightly higher and pointing to an upward corrective movement. "
"In the same chart, 20 SMA maintains a strong bearish slope, currently around 1.3570 also strong static resistance level."
"If price manages to recover above 1.3540, there’s little in the way up to mentioned resistance, where sellers may decide is a good level to join the party, preventing the pair from advancing further."
"The downside seems limited in the short term by mentioned 1.3520 and a price acceleration below it exposes this year low of 1.3476."
Key quotes
"Little has done the EUR/USD over past Asian session, having trade since the day started in a tight 20 pips range."
"The 4 hours chart shows indicators remain in oversold territory, with RSI turning slightly higher and pointing to an upward corrective movement. "
"In the same chart, 20 SMA maintains a strong bearish slope, currently around 1.3570 also strong static resistance level."
"If price manages to recover above 1.3540, there’s little in the way up to mentioned resistance, where sellers may decide is a good level to join the party, preventing the pair from advancing further."
"The downside seems limited in the short term by mentioned 1.3520 and a price acceleration below it exposes this year low of 1.3476."