17 Jan 2014
EUR/USD falls below 100-day SMA
FXstreet.com (Córdoba) - The EUR/USD extended losses during the American afternoon and pierced below the 100-day SMA to hit a 6-week low.
The EUR/USD selling interest mounted during the last hours, sending the EUR/USD to its lowest level in over a month at 1.3534 in recent dealings. At time of writing, the EUR/USD is trading at the 1.3540 zone, recording a 0.3% loss Friday and poised to print a 1.0% weekly decline. "A close below the 100-day average will help firm up the bear case", says Jamie Coleman, analyst at FXBeat.
EUR/USD levels to watch
In terms of technical levels, next supports are now seen at 1.3525 (Dec 2 low) and 1.3500 (psychological level). Meanwhile, resistances could be found at 1.3600 (psychological level), 1.3620 (Jan 17 high) and 1.3650 (Jan 16 high).
The EUR/USD selling interest mounted during the last hours, sending the EUR/USD to its lowest level in over a month at 1.3534 in recent dealings. At time of writing, the EUR/USD is trading at the 1.3540 zone, recording a 0.3% loss Friday and poised to print a 1.0% weekly decline. "A close below the 100-day average will help firm up the bear case", says Jamie Coleman, analyst at FXBeat.
EUR/USD levels to watch
In terms of technical levels, next supports are now seen at 1.3525 (Dec 2 low) and 1.3500 (psychological level). Meanwhile, resistances could be found at 1.3600 (psychological level), 1.3620 (Jan 17 high) and 1.3650 (Jan 16 high).