EUR/USD 1.3987 - 14 July

By: iForex
EUR/USD Open 1.3967 High 1.4007 Low 1.3902 Close 1.3976
Euro/Dollar failed to continue the downward movement on Monday. The currency couple made a bottom at 1.3902, than climbed up to the 1.4004 top, closing the day at 1.3976. On the 1 hour chart is seen that the European currency is now trying to test again the 1.4010 resistance level. In the medium term the pair has no clear direction, while it trades indecisively within the 1.3850 - 1.4170 range. Consistent movement above 1.4050 may trigger further bullish pressure with possible test of 1.4200. Immediate support is represented by yesterday's bottom 1.3900. followed by 1.3745. The CCI indicator is in the overbought zone and downwards of the 1 hour chart, suggesting potential descending pressure. Technical resistance levels: 1.4010 1.4135 1.4250 Technical support levels: 1.3900 1.3780 1.3655

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