8 Apr 2014
EUR/USD steady early in Asia below 1.3750
FXStreet (Córdoba) - The EUR/USD continues to trade inside a small range early in Asia with support at 1.3730 and resistance below 1.3750. Price has remained flat during the last hours, consolidating Monday’s gains.
The Euro rose on Monday after falling in the previous three days and recovered some of last week losses.
Technical outlook for the EUR/USD
According to Valeria Bednarik, Chief Analyst at FXStreet the pair maintains a a short term positive tone: “the hourly chart that shows momentum still aiming higher and 20 SMA gaining bullish slope, heading north below current price and offering dynamic resistance around 1.3720”.
“In the 4 hours chart price stands above a still bearish 20 SMA, while indicators head higher and approach their midlines, suggesting more advances as long as buyers now defend the 1.3720 price zone”, says Bednarik.
The Euro rose on Monday after falling in the previous three days and recovered some of last week losses.
Technical outlook for the EUR/USD
According to Valeria Bednarik, Chief Analyst at FXStreet the pair maintains a a short term positive tone: “the hourly chart that shows momentum still aiming higher and 20 SMA gaining bullish slope, heading north below current price and offering dynamic resistance around 1.3720”.
“In the 4 hours chart price stands above a still bearish 20 SMA, while indicators head higher and approach their midlines, suggesting more advances as long as buyers now defend the 1.3720 price zone”, says Bednarik.