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10 Mar 2014
EUR/USD clings to 1.3870
FXStreet (Córdoba) - The EUR/USD is back around opening level after a short-lived dip seen at the beginning of the American session.
In the absence of news and indicators, the EUR/USD was weighed by a negative opening in Wall Street and scored a fresh daily low of 1.3861 but bears lacked momentum allowing the pair to bounce. Earlier, ECB's Noyer comments saying rate cuts not 'too controversial' for the ECB did little to influence the price action. The EUR/USD is currently trading at the 1.3875/80 area, largely unchanged on the day.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3897/1.3900 (Mar 10 high/psychological level), 1.3914 (Mar 7 high) and 1.3976 (Oct 26 2011 high). On the downside, supports are seen at 1.3850 (Mar 7 low), 1.3800 (psychological level) and 1.3775 (10-day SMA).
In the absence of news and indicators, the EUR/USD was weighed by a negative opening in Wall Street and scored a fresh daily low of 1.3861 but bears lacked momentum allowing the pair to bounce. Earlier, ECB's Noyer comments saying rate cuts not 'too controversial' for the ECB did little to influence the price action. The EUR/USD is currently trading at the 1.3875/80 area, largely unchanged on the day.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3897/1.3900 (Mar 10 high/psychological level), 1.3914 (Mar 7 high) and 1.3976 (Oct 26 2011 high). On the downside, supports are seen at 1.3850 (Mar 7 low), 1.3800 (psychological level) and 1.3775 (10-day SMA).