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2 Aug 2013
EUR/USD violates support…bracing for downfall?
FXstreet.com (Chicago) - EUR/USD dropped below support zone at 1.3200 at opening of Asian journey in Asia.
The euro retraced against the greenback as pair traded at 1.3194, below support zone at 1.3200 (July 17 highs) followed by 1.3192 (July 10 highs) and 1.3176 (July 15 highs) supports. Resistances had been set at 1.3229 (July 23 highs), 1.3252 (June 20 highs), 1.3271 (June 20 highs).
Technically speaking, the fiber was slightly bearish as reported by the FXstreet.com technical studies on one-hour timeframe analysis. Trading below all EMAs and SMAs in short and long views, a bearish trend seemed to be confirmed by MACD and CCI pointing down.
The euro retraced against the greenback as pair traded at 1.3194, below support zone at 1.3200 (July 17 highs) followed by 1.3192 (July 10 highs) and 1.3176 (July 15 highs) supports. Resistances had been set at 1.3229 (July 23 highs), 1.3252 (June 20 highs), 1.3271 (June 20 highs).
Technically speaking, the fiber was slightly bearish as reported by the FXstreet.com technical studies on one-hour timeframe analysis. Trading below all EMAs and SMAs in short and long views, a bearish trend seemed to be confirmed by MACD and CCI pointing down.