EUR/USD closes at lowest level in seven months
30 July 2014, 13:12
- EUR/USD closed at its lowest level in seven months on Friday before recovering modestly off the 6th square root relationship of the 2013 low near 1.343
- Our near-term trend bias is lower in the euro while below 1.3545
- A daily close below a key Fibonacci confluence in the 1.3395 area is needed to set off a more material move lower
- A very minor cycle turn window is tomorrow ahead of a more important one around the middle of next week
- A move over 1.3545 would turn us positive on the euro
| Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
|---|
| EUR/USD |
1.3395 |
1.3430 |
1.3430 |
1.3545 |
1.3590 |
