27 May 2014
EUR/USD bucking the downward trend
FXStreet (Guatemala) - EUR/USD is trading at 1.3635, down -0.08% on the day, having posted a daily high at 1.3670 and low at 1.3613.
Despite soft inflationary EZ data, the EUR/USD seems to be determined to buck its recent downward trend while the pair is challenging the upside currently and moving in towards 1.3640 resistance territory. However, strategists at TD Securities explained that they doubt the EUR will move much higher ahead of the ECB meeting next week,” On the contrary", they said, "We still see the trend lower holding in the coming days - Support is at 1.3622”.
EUR/USD Levels
Spot is presently trading at 1.3635, and next resistance can be seen at 1.3637 (Hourly 20 EMA), 1.3638 (Daily Classic PP), 1.3639 (Daily 200 SMA), 1.3646 (Daily Open) and 1.3649 (Hourly 100 SMA). Support below can be found at 1.3630 (Monthly Low and Weekly Low), 1.3622 (Daily Classic S1), 1.3615 (Yesterday's Low) and 1.3613 (Daily Low).
Despite soft inflationary EZ data, the EUR/USD seems to be determined to buck its recent downward trend while the pair is challenging the upside currently and moving in towards 1.3640 resistance territory. However, strategists at TD Securities explained that they doubt the EUR will move much higher ahead of the ECB meeting next week,” On the contrary", they said, "We still see the trend lower holding in the coming days - Support is at 1.3622”.
EUR/USD Levels
Spot is presently trading at 1.3635, and next resistance can be seen at 1.3637 (Hourly 20 EMA), 1.3638 (Daily Classic PP), 1.3639 (Daily 200 SMA), 1.3646 (Daily Open) and 1.3649 (Hourly 100 SMA). Support below can be found at 1.3630 (Monthly Low and Weekly Low), 1.3622 (Daily Classic S1), 1.3615 (Yesterday's Low) and 1.3613 (Daily Low).