Back
9 Oct 2013
EUR/USD violates support printing 1.3562 session lows
FXstreet.com (Chicago) - EUR/USD fell to 1.3562 session lows after breaking below immediate support. On potential descending triangle formation, the pair accumulates 0.07% minimal losses on greenback’s strengthening across the board.
EUR/USD Technical Levels
Technically speaking, the pair trades at 1.3564 below support at 1.3568 (September 19th highs) and now facing 1.3536 (September 25 highs) followed by 1.35 (October 1st lows). On the upside, resistances are set at 1.36 (October 2nd highs), 1.3646 (October 3rd highs) followed by 1.3715 (January 31st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Valeria Bednarik, FXstreet.com Chief analyst explains “action took place in stocks markets this Tuesday, with US indexes nose diving as DJIA losses around 130 points and S&P down 1.08% ahead of the close. Looming debt ceiling and default concerns weight in Wall Street and seems things turned personal between Obama and Boehner, both sticking to their position of not being the one willing to give up first.” The US political crisis continues with political news making headlines after Yellen’s incoming official appointment by President Obama. In Europe, Draghi is expected to address the European Union members.
EUR/USD Technical Levels
Technically speaking, the pair trades at 1.3564 below support at 1.3568 (September 19th highs) and now facing 1.3536 (September 25 highs) followed by 1.35 (October 1st lows). On the upside, resistances are set at 1.36 (October 2nd highs), 1.3646 (October 3rd highs) followed by 1.3715 (January 31st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Valeria Bednarik, FXstreet.com Chief analyst explains “action took place in stocks markets this Tuesday, with US indexes nose diving as DJIA losses around 130 points and S&P down 1.08% ahead of the close. Looming debt ceiling and default concerns weight in Wall Street and seems things turned personal between Obama and Boehner, both sticking to their position of not being the one willing to give up first.” The US political crisis continues with political news making headlines after Yellen’s incoming official appointment by President Obama. In Europe, Draghi is expected to address the European Union members.