EUR/USD 1.3910 - 9 July

By: iForex
EUR/USD Open 1.3878 High 1.3929 Low 1.3832 Close 1.3880
Euro/Dollar attempted to decrease on Wednesday, reaching a top at 1.3929, and from there descending to the 1.3832 bottom with around 100 pips, but further bearish pressure was limited as the currency pair closed the day at 1.3880. Short term signals are neutral. There is still no significant movement in one clear direction. However there is a downwards pressure on the European currency, but only a clear break below 1.3880 will confirm the descending scenario. The nearest resistance is 1.3930. Break above this level may cause further increasing momentum with possible test of 1.4160. The CCI indicator is in the neutral zone on the 1 hour chart. Technical resistance levels: 1.3930 1.4160 1.4125 Technical support levels: 1.3880 1.3770 1.3650

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