26 Sep 2013
EUR/USD gives up 1.3520 front on gradual descent; above EMA20
FXstreet.com (Chicago) - EUR/USD extends gradual descent ahead of Tokyo’s opening after printing failing to remain above the 1.3520 zone (triple-tops with August 22nd and August 24th).
EUR/USD Technical Levels
Price action reveals session highs at 1.3533 with lows at 1.3515 ahead of Tokyo’s opening. The pair maintains 7-month highs but extends short-term downward trendline on bearish channel after reaching peaks. Offered at 1.3515, the pair oscillates between supports aligned at 1.35 (September 19th lows), 1.3450 (August 17th highs) followed by 1.3413 (August 23rd highs) and resistances set at 1.3563 (September 18th highs), 1.36 (February 1st highs) follower by 1.3662 (January 30th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.
According to FXstreet analyst Valeria Bednarik, indicators continue holding in the positive scenario. Amid the US debt deficit storm there is a “probable technical default in the upcoming days if the Congress fails to raise the debt ceiling”.
EUR/USD Technical Levels
Price action reveals session highs at 1.3533 with lows at 1.3515 ahead of Tokyo’s opening. The pair maintains 7-month highs but extends short-term downward trendline on bearish channel after reaching peaks. Offered at 1.3515, the pair oscillates between supports aligned at 1.35 (September 19th lows), 1.3450 (August 17th highs) followed by 1.3413 (August 23rd highs) and resistances set at 1.3563 (September 18th highs), 1.36 (February 1st highs) follower by 1.3662 (January 30th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.
According to FXstreet analyst Valeria Bednarik, indicators continue holding in the positive scenario. Amid the US debt deficit storm there is a “probable technical default in the upcoming days if the Congress fails to raise the debt ceiling”.