Currency Analyst since 2010

EUR/USD below $1.3500

EUR/USD hit $1.3477, the lowest level since the beginning of February. The single currency was sold-off as the European trade started.

The sentiment about the single currency was bearish and in absence of positive developments this made euro fall triggering sell stops. Potential further EU sanctions on Russia keep EUR/USD under pressure. USD bulls on the other hand, are active ahead of the US CPI release at 12:30 GMT.

Note that EUR/USD is oversold in the short term and the RSI and MACD on H4 didn’t confirm this fresh low.

Support us at $1.3476, $1.3450 and $1.3425/15 (200-week MA/June 2013 high). Resistance is at $1.3529, $1.3550 and $1.3575.

Chart. H4 EUR/USD



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