25 Oct 2013
EUR/USD extends correction below 1.3800
FXstreet.com (Córdoba) - After printing fresh 23-month highs at the 1.3830 area, the EUR/USD came under mild pressure and erased intraday gains in the wake of disappointing German IFO data.
With momentum lacking, the EUR/USD failed to sustain gains and dropped back below 1.3800 in recent dealings. Although moves have been modest, the EUR/USD continues to print higher highs and higher lows on daily basis, having gained nearly 150 pips this week propelled by disappointing US NFP data Tuesday.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3795 zone, virtually unchanged since opening, with immediate supports seen at 1.3784 (daily low) and 1.3753 (100-hour SMA). On the other hand, resistances could be found at 1.3730 (daily high) and 1.3858 (Nov 9 2011 high).
With momentum lacking, the EUR/USD failed to sustain gains and dropped back below 1.3800 in recent dealings. Although moves have been modest, the EUR/USD continues to print higher highs and higher lows on daily basis, having gained nearly 150 pips this week propelled by disappointing US NFP data Tuesday.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3795 zone, virtually unchanged since opening, with immediate supports seen at 1.3784 (daily low) and 1.3753 (100-hour SMA). On the other hand, resistances could be found at 1.3730 (daily high) and 1.3858 (Nov 9 2011 high).