29 Nov 2013
EUR/USD plunges to 1.3583 lows
FXstreet.com (Chicago) - EUR/USD fell to 1.3583 session lows on strong bearish pressure giving up the 1.36 zone in the afternoon of the American trading session.
Earlier in Europe, the CPI – core was 1% beating expected 0.8%. Retail sales in Germany were worse than expected while unemployment rates in Italy matched expectations at 12.5%.
EUR/USD Technical Levels
Price action reveals strong bearish pressure that sends the pair to new session lows around the 1.3583 zone. Technically speaking, the pair is offered at 1.3586 and oscillates between the supports aligned at 1.3580 (November 19th highs), 1.3557 (November 22nd highs) followed by 1.3519 (November 25th lows) and the resistances set at 1.3621 (November 28th highs), 1.3649 (October 21st lows) ahead of 1.3686 (October 21st highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish with a neutral EMA20.
Earlier in Europe, the CPI – core was 1% beating expected 0.8%. Retail sales in Germany were worse than expected while unemployment rates in Italy matched expectations at 12.5%.
EUR/USD Technical Levels
Price action reveals strong bearish pressure that sends the pair to new session lows around the 1.3583 zone. Technically speaking, the pair is offered at 1.3586 and oscillates between the supports aligned at 1.3580 (November 19th highs), 1.3557 (November 22nd highs) followed by 1.3519 (November 25th lows) and the resistances set at 1.3621 (November 28th highs), 1.3649 (October 21st lows) ahead of 1.3686 (October 21st highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish with a neutral EMA20.