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31 Mar 2014
EUR/USD retreats from 1.3765
FXStreet (Córdoba) - The EUR/USD opened the week trading around 1.3763, above Friday’s close but then bounced to the downside and fell below 1.3750. So far bottomed at 1.3744, near last American session lows.
Outlook for the EUR/USD
“The EUR/USD presents a slightly positive tone, gapping to the upside in this Sunday albeit some talking coming from Germany: after reviving the possibility of a rate hike or even some sort of QE last week, this time ECB Weidmann said the euro zone is not in a deflationary cycle and that the Central Bank should not overreact to a slowdown in inflation”, says Valeria Bednarik, Chief Analyst at FXStreet.
From a technical perspective, the 4 hours charts shows mild bearish tone seen over the past few days persisting, notes Bednarik, “with indicators in negative territory and 20 SMA heading lower above current price, offering short term resistance in the 1.3780 price zone”.
Outlook for the EUR/USD
“The EUR/USD presents a slightly positive tone, gapping to the upside in this Sunday albeit some talking coming from Germany: after reviving the possibility of a rate hike or even some sort of QE last week, this time ECB Weidmann said the euro zone is not in a deflationary cycle and that the Central Bank should not overreact to a slowdown in inflation”, says Valeria Bednarik, Chief Analyst at FXStreet.
From a technical perspective, the 4 hours charts shows mild bearish tone seen over the past few days persisting, notes Bednarik, “with indicators in negative territory and 20 SMA heading lower above current price, offering short term resistance in the 1.3780 price zone”.