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20 Feb 2014
EUR/USD steady above 1.3720
FXStreet (Córdoba) - After dropping from 1.3760 to 1.3722 following FOMC minutes, the EUR/USD stabilized around 1.3735. Early in Asia continues to move around 1.3730.
The Euro was among the worst performers on Wednesday and finished with downside momentum against the US dollar. The trend in four hour charts still point to the upside.
EUR/USD rejected at 1.3770
The decline of Wednesday was the first daily loss after rising in the previous four days. A day ago the EUR/USD was testing levels on top of 1.3770 but it was unable to hold, lost momentum and never rose back to those levels.
From the current trading area immediate resistance lies at 1.3740 and above at the key short-term area at 1.3770, followed by 1.3800. Potential supports to the downside lie at 1.3720/25 (February 19 low), 1.3690 and 1.3655.
The Euro was among the worst performers on Wednesday and finished with downside momentum against the US dollar. The trend in four hour charts still point to the upside.
EUR/USD rejected at 1.3770
The decline of Wednesday was the first daily loss after rising in the previous four days. A day ago the EUR/USD was testing levels on top of 1.3770 but it was unable to hold, lost momentum and never rose back to those levels.
From the current trading area immediate resistance lies at 1.3740 and above at the key short-term area at 1.3770, followed by 1.3800. Potential supports to the downside lie at 1.3720/25 (February 19 low), 1.3690 and 1.3655.