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9 Jun 2014
EUR/USD could accelerate decline on break of 1.3570/80 support - FXStreet
Valeria Bednarik, FXStreet Chief Analyst notes that the EUR/USD is sliding ahead of the US opening, as the uneventful European session is drawing to an end.
Key quotes
“Having advanced up to 1.3668 the pair failed again to sustain gains above the 1.3645 price zone, 200 DMA and strong resistance level now, at least in the short term.”
“The hourly chart shows latest slide sent price below its moving averages and indicators heading south below their midlines, gaining bearish track. In the 4 hours chart price also accelerates south below moving averages, while indicators hold in neutral territory, slowly turning south.”
“Immediate support stands around 1.3570/80 and if broken, the pair will likely accelerate its slide.”
Key quotes
“Having advanced up to 1.3668 the pair failed again to sustain gains above the 1.3645 price zone, 200 DMA and strong resistance level now, at least in the short term.”
“The hourly chart shows latest slide sent price below its moving averages and indicators heading south below their midlines, gaining bearish track. In the 4 hours chart price also accelerates south below moving averages, while indicators hold in neutral territory, slowly turning south.”
“Immediate support stands around 1.3570/80 and if broken, the pair will likely accelerate its slide.”