The EUR/USD is under pressure, falling to a fresh 5-month low with the European opening, so far of 1.3480. The pair trades a few pips above the year low of 1.3476, having been unable to extend its decline despite breaching last week one of 1.3490. Nevertheless, the bearish tone has become stronger, and the 4 hours chart shows 20 SMA managed to cap the upside since early Asian opening, while momentum accelerates south below its midline.
Large stops are reported below the 1.3470 level, and if triggered should signal a quick run towards 1.3440 static support zone. If this last gives up, the 1.3400 figure comes next. To the upside, 1.3535 price zone is the level to watch, as only steady gains above it will deny the downward continuation and favor a bounce up to 1.3570.
View Live Chart for EUR/USD
Large stops are reported below the 1.3470 level, and if triggered should signal a quick run towards 1.3440 static support zone. If this last gives up, the 1.3400 figure comes next. To the upside, 1.3535 price zone is the level to watch, as only steady gains above it will deny the downward continuation and favor a bounce up to 1.3570.
View Live Chart for EUR/USD
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