Valeria Bednarik, collaborator at FXstreet.com, hourly indicators are bearish: "Failure attempt to regain 1.4200 send the pair back down close to yesterday’s low. Hourly indicators are quite bearish, with momentum cutting the 100 line and current candle opening under 20 SMA. A bit exhausted, short upside correction to 1.4150 before an attempt to breach under 1.4105 strong support zone."

Support levels, according to Bednarik, lie at 1.4105, 1.4080 and 1.4040. Resistance levels are 1.4150, 1.4200 and 1.4240.
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Forex: EUR/USD: Euro dips below 1.4120 day low; approaching 1.4105 support

FXstreet.com (Barcelona) - The Euro has dropped to at intra-day low levels; after having been rejected at 1.4180 the Euro broke 1.4120 support area, and the pair trades right above 1.4105 (Aug 10 low).

According to Valeria Bednarik, collaborator at FXstreet.com, hourly indicators are bearish: "Failure attempt to regain 1.4200 send the pair back down close to yesterday’s low. Hourly indicators are quite bearish, with momentum cutting the 100 line and current candle opening under 20 SMA. A bit exhausted, short upside correction to 1.4150 before an attempt to breach under 1.4105 strong support zone."

Support levels, according to Bednarik, lie at 1.4105, 1.4080 and 1.4040. Resistance levels are 1.4150, 1.4200 and 1.4240.
For more information, read our latest forex news.

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