13 Dec 2013
EUR/USD drops to 4-day low
FXstreet.com (Córdoba) - The EUR/USD extended losses to fresh lows after data showed Eurozone employment was unchanged for the second consecutive quarter in Q3.
EUR/USD breaks below 1.3740
The EUR/USD broke decisively below the 1.3740 support area, triggering stops and falling to a 4-day low of 1.3720 in recent dealings. At time of writing, the EUR/USD is trading down 0.2% at the 1.3725 zone, with immediate supports seen at 1.3720 (daily low), 1.3700 (psychological level) and 1.3685 (10-day SMA).
EUR/USD technical outlook
"The recent high at 1.3811 was actually a test of the 1.3830 resistance area. The test proved to be unsuccessful, and we are now witnessing a correction", says Stoyan Mihaylov, analyst at DeltaStock.com. "The downward movement is targeting the 1.3650 support zone. Crucial on the upside is the 1.3832 high".
EUR/USD breaks below 1.3740
The EUR/USD broke decisively below the 1.3740 support area, triggering stops and falling to a 4-day low of 1.3720 in recent dealings. At time of writing, the EUR/USD is trading down 0.2% at the 1.3725 zone, with immediate supports seen at 1.3720 (daily low), 1.3700 (psychological level) and 1.3685 (10-day SMA).
EUR/USD technical outlook
"The recent high at 1.3811 was actually a test of the 1.3830 resistance area. The test proved to be unsuccessful, and we are now witnessing a correction", says Stoyan Mihaylov, analyst at DeltaStock.com. "The downward movement is targeting the 1.3650 support zone. Crucial on the upside is the 1.3832 high".