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7 Jan 2014
EUR/USD dips briefly below 1.3600
FXstreet.com (Córdoba) - The EUR/USD came under pressure and reversed intraday losses, dipping briefly below 1.3600 as the greenback strengthened across the board, triggering stops.
After failing to overcome the 1.3655 zone during European hours, the EUR/USD turned south and has been retreating ever since, having hit a daily low of 1.3595 in recent dealings following a strong USD spike. At time of writing, the EUR/USD is trading at the 1.3615 area, still a few pips below its opening price.
EUR/USD levels to watch
In terms of technical levels, on the downside, immediate supports could be found at 1.3695 (daily low), 1.3570 (Jan 6 low) y 1.3533 (100-day SMA). On the upside, resistances are seen at 1.3655 (daily high), 1.3670 (100-hour SMA/Jan 3 high) and 1.3700 (psychological level).
After failing to overcome the 1.3655 zone during European hours, the EUR/USD turned south and has been retreating ever since, having hit a daily low of 1.3595 in recent dealings following a strong USD spike. At time of writing, the EUR/USD is trading at the 1.3615 area, still a few pips below its opening price.
EUR/USD levels to watch
In terms of technical levels, on the downside, immediate supports could be found at 1.3695 (daily low), 1.3570 (Jan 6 low) y 1.3533 (100-day SMA). On the upside, resistances are seen at 1.3655 (daily high), 1.3670 (100-hour SMA/Jan 3 high) and 1.3700 (psychological level).