EUR/USD nearing key 1.3890 suppport
FXstreet.com (Buenos Aires) – EUR/USD Current price: 1.3930. Consolidating since mid American afternoon, pair has posted a 3rd day of wide range, and high volatility, reaching an intraday high around 1.4050, before falling to current price zone, following gold slump: the metal fell below key $ 1330/oz price zone, 38.2% retracement of the last daily bullish rally, triggering a dollar recovery across the board.
EUR/USD failure to hold above 1.4000 level has again jeopardize bullish trend, thus pair remains above 1.3880/90 price zone, immediate support for the cross, and 61.8% retracement of the 1.5140/1.1870 rally. “Lose of this level should accelerate loses towards 1.3830 area first, followed later by 1.3770 price zone,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.3885 1.3830 1.3770. Resistance levels: 1.3935 1.3960 1.4000.