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18 Mar 2014
EUR/USD back above 1.3900
FXStreet (Córdoba) - The EUR/USD stretched to a marginal new low at the beginning of the American session before bouncing back above the 1.3900 mark amid anxiety about Crimea.
Mood swings and anxiety has been driving the FX market today, sending the EUR/USD up and down around the 1.3900 level after failing to overcome the 1.3940 area during the Asian trade. At time of writing, the EUR/USD is trading at 1.3905, 0.1% below its opening price.
EUR/USD technical outlook
"EUR/USD remains unable to abandon the 1.3900 area, hovering around it for most of the European morning", said Valeria Bednarik, analyst at FXStreet. "Technically, a mild bearish tone appears in the hourly chart, albeit there's little to support it besides indicators turning slightly lower around their midlines: price has been finding buyers on approaches to the 1.3880 area, and unless a clear break below next support, at 1.3840, the pair will likely keep the range ahead of FED’s meeting tomorrow".
Mood swings and anxiety has been driving the FX market today, sending the EUR/USD up and down around the 1.3900 level after failing to overcome the 1.3940 area during the Asian trade. At time of writing, the EUR/USD is trading at 1.3905, 0.1% below its opening price.
EUR/USD technical outlook
"EUR/USD remains unable to abandon the 1.3900 area, hovering around it for most of the European morning", said Valeria Bednarik, analyst at FXStreet. "Technically, a mild bearish tone appears in the hourly chart, albeit there's little to support it besides indicators turning slightly lower around their midlines: price has been finding buyers on approaches to the 1.3880 area, and unless a clear break below next support, at 1.3840, the pair will likely keep the range ahead of FED’s meeting tomorrow".