FXstreet.com (Barcelona) - The EUR/USD has fallen below the 1.3600 level after the US opening bell, from the 1.3660 to 1.3550. Currently, tha pair is trading around the 1.3575/85.
Today, the pair has lost around 175 pips from the 1.3736, in the early European morning, to 1.3550, after the US opening bell.
According to Lena Manosaurides, Analyst at SpikeCharts, This is a crucial week for Dollar direction: The EUR/USD is trading heavily since the market opened, with the pair topping out once again at 1.3730 and since then consolidating in the narrow range of 1.3630-1.3730. Now it will be interesting to see how the pair behaves at those levels and if euro's rise is strong enough to take out 1.3760. On the downside, if the pair breaks 1.3560 then more euro weakness may be in store till 1.35 ahead of 1.3480. Today it's a typical Monday after a very volatile and choppy week, with no important news on the calendar and plenty of big events to follow over the coming days. Therefore, traders may want to take it easy and not commit themselves either way! As long as 1.3560 holds for now, further upside may be coming towards 1.38.