Forex | Forex | Forex: EUR/USD falls further to test 1.4050 (30/06/2009 14:09:00)

Forex: EUR/USD falls further to test 1.4050

FXstreet.com (Barcelona) - The EUR/USD's decline from 1.4147 has continued further after the US opening session and the pair has broken 1.4060 to trade below 1.4050 and post 1.4041 as fresh intra-day low. Currently the pair is trading around 1.4040/50, 0.40% below today's opening price action.

Valeria Bednarik, FXstreet.com collaborator, comments the EUR/USD bias' change in the hourly chart: "Hourly charts have turned bearish with current candle opening under 20 SMA that turned down and indicators giving bearish crosses (momentum has just cut under the 100 line). Reversing of risk appetite seen across the board supports more dollar bullish momentum for the next hours. Watch for 200 EMA around 1.4000 to hold the downside. Support levels: 1.4040 1.4000 1.3960. Resistance levels: 1.4100 1.4140 1.4180."

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