The EUR/USD has offered no news over the last session, maintaining its latest range albeit trading lower, measly 20 pips above its year low. Early data shown a contraction in the EZ Current Account, but the number hardly affects the EUR: is more due to a general negative sentiment against the common currency which keeps it under pressure.
Technically, the bearish tone prevails according to the 4 hours chart, with indicators grinding lower below their midlines and price below its 20 SMA, albeit showing no strength at the time being. Some follow through should be expected on a break below 1.3330, looking then for a test of 1.3295, November 2013 monthly low. Further downward acceleration should signal a test of next support, in the 1.3250 price zone, while the upside is now being limited by a static resistance around 1.3375.
View Live Chart for EUR/USD
Technically, the bearish tone prevails according to the 4 hours chart, with indicators grinding lower below their midlines and price below its 20 SMA, albeit showing no strength at the time being. Some follow through should be expected on a break below 1.3330, looking then for a test of 1.3295, November 2013 monthly low. Further downward acceleration should signal a test of next support, in the 1.3250 price zone, while the upside is now being limited by a static resistance around 1.3375.
View Live Chart for EUR/USD
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