FXstreet.com (Barcelona) - The negative opening in U.S. stock markets has renewed risk aversion and the EUR/USD has broken intra-day low at 1.2945; the Euro has lost above 1.0% off its value so far today dropping to levels below 1.2900, and setting a new one-month low at 1.2887.
Support level remains now at 1.2887/1.2900, below here 1.2870, and if that level gives way 1.2835 (Mar 16 low). On the upside, previous intra-day low remains at 1.2945, and above there, 1.2985 and intra-day high at 1.3020.
According to Valeria Bednarik, collaborator at FXstreet.com, the pair is trading under strong selling pressure: Still under the 1.3000, the pair continues under strong selling pressure, despite hourly charts seem over sold, that anyway do not mean a change of actual trend. Under 20 SMA that keeps it's downside inclination, clear break above it is needed to see some upside recovery.
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