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6 Jan 2014
EUR/USD falters at 1.3620
FXstreet.com (Córdoba) - The recovery of the euro against the dollar lost momentum and faltered at the 1.3620 area ahead of the Wall Street opening, putting the EUR/USD back under mild pressure.
The EUR/USD retreated to an hourly low of 1.3595 but found support at the 10- 20-hour SMA's crossover and it was last at the 1.3600 region, still a few pips above its opening price. On the data front, attention will now turn to the US ISM services PMI at 15:00GMT, which is forecast to rise from 53.9 to 54.6.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD has immediate resistances to overcome at 1.3621 (daily high) and 1.3671 (Jan 3 high) ahead of 1.3700 (psychological level), while supports are seen at 1.3594 (MA's crossover), 1.3570 (daily low) and 1.3530 (100-day SMA).
The EUR/USD retreated to an hourly low of 1.3595 but found support at the 10- 20-hour SMA's crossover and it was last at the 1.3600 region, still a few pips above its opening price. On the data front, attention will now turn to the US ISM services PMI at 15:00GMT, which is forecast to rise from 53.9 to 54.6.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD has immediate resistances to overcome at 1.3621 (daily high) and 1.3671 (Jan 3 high) ahead of 1.3700 (psychological level), while supports are seen at 1.3594 (MA's crossover), 1.3570 (daily low) and 1.3530 (100-day SMA).