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9 Jan 2014
EUR/USD erases daily losses
FXstreet.com (Córdoba) - The EUR/USD has managed to erase intraday losses after the quick drop that followed ECB Draghi's dovish comments.
EUR/USD remains capped by 1.3600
The EUR/USD found support at the 1.3548 where it printed a 1-month low after Draghi highlighted downside risks for the Eurozone and reiterated the bank will take decisive action if needed. However, the bounce was capped by the 1.3595 area leaving the EUR/USD around 1.3590, up 0.1% down on the day, with attention now turning to Friday's nonfarm payrolls.
EUR/USD outlook
Valeria Bednarik, chief analyst at FXstreet.com commented that the negative tone prevails in 4-hour charts, with indicators capped below their midlines and price developing below both 200 EMA and 20 SMA. "Further price accelerations below mentioned daily low should anticipate a continued slide towards 1.3490 price zone", the analyst said.
As for technical levels, Bednarik locates immediate supports at 1.3530, 1.3490 and 1.3440, while she places resistances at 1.3620 and 1.3660.
EUR/USD remains capped by 1.3600
The EUR/USD found support at the 1.3548 where it printed a 1-month low after Draghi highlighted downside risks for the Eurozone and reiterated the bank will take decisive action if needed. However, the bounce was capped by the 1.3595 area leaving the EUR/USD around 1.3590, up 0.1% down on the day, with attention now turning to Friday's nonfarm payrolls.
EUR/USD outlook
Valeria Bednarik, chief analyst at FXstreet.com commented that the negative tone prevails in 4-hour charts, with indicators capped below their midlines and price developing below both 200 EMA and 20 SMA. "Further price accelerations below mentioned daily low should anticipate a continued slide towards 1.3490 price zone", the analyst said.
As for technical levels, Bednarik locates immediate supports at 1.3530, 1.3490 and 1.3440, while she places resistances at 1.3620 and 1.3660.