24 Jul 2014
EUR/USD depressed at 8-mont low ahead of EU PMI's
FXStreet (Bali) - EUR/USD has been going nowhere fast the last 24 hours, with current rate at 1.3460 ahead of Euro zone PMI's later today.
As Peter Fell, Analyst at FXBeat, notes: "We have opened in Asia at 1.3462, solid sovereign demand remains at 1.3455 and of course the well documented 1.3450 barrier will provide further demand."
Below 1.3450 would target a move to 1.3400, November 2013 low, below there, 1.3374 is the 50% fib on the 1.2755 / 1.3993 rise. Resting sell orders remain between 1.3475/85 and more cited around 1.3500."
As Peter Fell, Analyst at FXBeat, notes: "We have opened in Asia at 1.3462, solid sovereign demand remains at 1.3455 and of course the well documented 1.3450 barrier will provide further demand."
Below 1.3450 would target a move to 1.3400, November 2013 low, below there, 1.3374 is the 50% fib on the 1.2755 / 1.3993 rise. Resting sell orders remain between 1.3475/85 and more cited around 1.3500."