Euro/Dollar made a moderate downward movement on Tuesday. The currency couple climbed to the 1.4046 top, than dropped down to 1.3910. On the 1 hour chart the European currency broke the 1.3910 support downwards. There is no significant directional movement so far, as the European currency showed no clear direction for the last few weeks. Currently, however there is a bigger descending pressure with possible testing of the key 1.3770 support level. The nearest resistance is 1.4045. The CCI indicator is downwards of the 100 line on the 1 hour chart, suggesting potential downward pressure.
Technical resistance levels: 1.4045 1.4125 1.4250
Technical support levels: 1.3880 1.3770 1.3650
