20 Jan 2014
EUR/USD approaching 1.35 as EUR/JPY sales weigh
FXstreet.com (Bali) - EUR/USD has come under pressure in the Asian session, with cross flows in EUR/JPY, along with a bearish technical break last Friday, weighing on prices.
Close below daily cloud EUR/USD negative
At present, the EUR/USD is en route to 1.35, having confirmed its first close below the daily ichimoku cloud since July 15 last year, an important technical development which has most likely lowered trader's conviction to buy EUR dips.
EUR/USD technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "Players count on FOMC to continue tapering over the upcoming month and pricing it in, supporting the greenback against most rivals. Adding to the picture its EUR self weakness, which seems poised to extend its fall."
Technically, in the 4 hours chart, Valeria thinks "technical readings stand in negative territory, favoring also a bearish continuation towards next strong support at the 1.3440 area."
Close below daily cloud EUR/USD negative
At present, the EUR/USD is en route to 1.35, having confirmed its first close below the daily ichimoku cloud since July 15 last year, an important technical development which has most likely lowered trader's conviction to buy EUR dips.
EUR/USD technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "Players count on FOMC to continue tapering over the upcoming month and pricing it in, supporting the greenback against most rivals. Adding to the picture its EUR self weakness, which seems poised to extend its fall."
Technically, in the 4 hours chart, Valeria thinks "technical readings stand in negative territory, favoring also a bearish continuation towards next strong support at the 1.3440 area."