9 Jul 2014
EUR/USD back to square one
FXStreet (Córdoba) - The EUR/USD has retreated back to the flat line after a positive opening in European equity markets took the pair to fresh daily highs.
The EUR/USD peaked at the 1.3630 zone, but was unable to hold gains for long and pulled back to trade nearly flat on the day at the 1.3610 area in the absence of economic data. However, the FOMC minutes release will be the main event of the day and bring some action to the market.
EUR/USD technical levels
At time of writing, the EUR/USD is trading at 1.3612, with immediate supports seen at 1.3604 (21-day SMA), 1.3587 (Jul 8 low) and 1.3575 (Jul 7 low). On the other hand, resistances could be found at 1.3630 (Jul 9 high), 1.3660 (50-day SMA) and 1.3675 (200-day SMA).
The EUR/USD peaked at the 1.3630 zone, but was unable to hold gains for long and pulled back to trade nearly flat on the day at the 1.3610 area in the absence of economic data. However, the FOMC minutes release will be the main event of the day and bring some action to the market.
EUR/USD technical levels
At time of writing, the EUR/USD is trading at 1.3612, with immediate supports seen at 1.3604 (21-day SMA), 1.3587 (Jul 8 low) and 1.3575 (Jul 7 low). On the other hand, resistances could be found at 1.3630 (Jul 9 high), 1.3660 (50-day SMA) and 1.3675 (200-day SMA).