Forex: EUR/USD wallowing around 1.33, above 38.2% Fibo

FXstreet.com (San Francisco) - EUR/USD managed to fall to a 2-day low of 1.3264 overnight, weighed by risk aversion following EUR-negative comments from the EU’s Juncker, saying the euro was “dangerously high.” Technically speaking, a “Break below the [38.2% Fibo retracement of its latest bullish run at 1.3265] however, should put the pair under pressure, with 1.3180 strong support level then at sight,” says Valeria Bednarik, Chief Analyst at FXstreet.com.

Spot is now consolidating recent losses around the 1.3300 level so far this Wednesday in Asia. Should the bearish momentum persist in the hours ahead, a break below mentioned Fibo support would then target 1.3220, while resistance levels may be found at 1.3320, 1.3360 and 1.3400.

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