10 Oct 2013
EUR/USD hits breaks on downfall; accelerates above 1.35
FXstreet.com (Chicago) - EUR/USD fell to 1.3499 session highs giving in the key psychological support at 1.35 momentarily on greenback’s awakening. The pair prints 0.38% weekly losses but is up 1.80% this month.
Mario Draghi, ECB President, explained how important a banking union is for the effective functioning of the euro and insisted on a 2015 mechanism that will wind down failing banks in the region. In the US, Yellen is expected to continue with Bernanke’s monetary policies ahead of a possible tapering coming sometime soon.
EUR/USD Technical Levels
Technically speaking, the pair is offered at 1.3505 and oscillates between the supports aligned at 1.3461 (September 24th lows), 1.34 (August 27th highs) ahead of 1.3320 (September 17th lows) and the resistances set at 1.3564 (September 27th highs), 1.3631 (October 2nd highs) followed by 1.3716 (February 1st highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis with a neutral EMA20. Breaking the upward trendline since last September 5th, the pair continues printing lower lows and highs.
Mario Draghi, ECB President, explained how important a banking union is for the effective functioning of the euro and insisted on a 2015 mechanism that will wind down failing banks in the region. In the US, Yellen is expected to continue with Bernanke’s monetary policies ahead of a possible tapering coming sometime soon.
EUR/USD Technical Levels
Technically speaking, the pair is offered at 1.3505 and oscillates between the supports aligned at 1.3461 (September 24th lows), 1.34 (August 27th highs) ahead of 1.3320 (September 17th lows) and the resistances set at 1.3564 (September 27th highs), 1.3631 (October 2nd highs) followed by 1.3716 (February 1st highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis with a neutral EMA20. Breaking the upward trendline since last September 5th, the pair continues printing lower lows and highs.