EUR/USD putting its foot down on 1.34 handle

FXStreet (Guatemala) - EUR/USD is trading at 1.3421, down -0.06% on the day, having posted a daily high at 1.3434 and low at 1.3417.

EUR/USD trades robustly on the handle post last week’s disappointments from the US, in the main, the Nonfarm payrolls result. However, Valeria Bednarik, chief analyst at FXStreet suggest that the EUR/USD seems to have a long road ahead before confirming an upward continuation, considering that the latest upward correction from its year low of 1.3366, is still unable to extend above the 23.6% retracement of the 1.3639/1.3366 slide around current levels. “Furthermore, sellers had been surging on the 1.3440 price zone earlier past week, so some follow through above it is required to start thinking about buying”.

EUR/USD Levels

Current price is 1.3422, with resistance ahead at 1.3431 (Hourly 200 SMA), 1.3440 (Weekly High), 1.3475 and 1.3500. Next support to the downside can be found at 1.3414 (Hourly 20 EMA) and 1.3406 (Hourly 100 SMA), 1.3370 and 1.3335.