20 Jun 2014
EUR/USD retraces half of weekly gains
FXStreet (Córdoba) - The EUR/USD finally failed to sustain gains and dipped back below the 1.3600 mark at the beginning of the American session.
The EUR/USD erased not only its daily advance but alseo yesterday’s rise, sliding all the way back to the 1.3575 area amid some profit taking flows ahead of the weekend and crosses (EUR/CAD & EUR/GBP)weighing. At time of writing, the EUR/USD is trading at 1.3580, down 0.18% on the day, although still headed for a weekly gain of 0.29%.
The US dollar came under pressure Wednesday after a more dovish than expected Fed stance fueled expectations it will take a while before the bank starts hiking rates.
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find next supports at 1.3565 (10-day SMA), 1.3540 (Jun 18 low) and 1.3500 (psychological level). On the other hand, resistances are seen at 1.3642 (Jun 19 high), 1.3663 (200-day SMA) and 1.3700 (psychological level).
The EUR/USD erased not only its daily advance but alseo yesterday’s rise, sliding all the way back to the 1.3575 area amid some profit taking flows ahead of the weekend and crosses (EUR/CAD & EUR/GBP)weighing. At time of writing, the EUR/USD is trading at 1.3580, down 0.18% on the day, although still headed for a weekly gain of 0.29%.
The US dollar came under pressure Wednesday after a more dovish than expected Fed stance fueled expectations it will take a while before the bank starts hiking rates.
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find next supports at 1.3565 (10-day SMA), 1.3540 (Jun 18 low) and 1.3500 (psychological level). On the other hand, resistances are seen at 1.3642 (Jun 19 high), 1.3663 (200-day SMA) and 1.3700 (psychological level).