FXstreet.com (Barcelona) - EUR/USD has fallen around 80 pips from 1.3287 to 1.3204 in the American session. Currently the pair is trading around 1.3220/30.
Today, EUR/USD has fallen around 0.25% from the opening price at 0.3256, reaching 1.3287 as highest and 1.3167 as lowest. Yesterday, the pair rose 0.52% from the 1.3189 opening price to close the day at 1.3257. Yesterday highest was 1.3343 and 1.3174 was lowest.
According to Valeria Bednarik, FXstreet.com collaborator, EUR/USD is in a consolidation movement above 1.3200: Consolidating above the 1.3200 level, the pair has been quickly rejected form the 1.3735 zone, and the downside correction was capped by the 50% Fibonacci retracement measured in daily charts from 1.2455 to 1.3738, around 1.3100. Momentum shows some bearish divergences also in daily charts, and price remains under the 38.2% of the mentioned rally. Daily close under 1.3250 will put more bearish pressure in the pair. 200 EMA in 4 hours charts that usually works as a nice dynamic support for the pair, is also around the 1.3110 zone. That zone should be taken into consideration before considering longer term bearish bias. Above 1.3346 highs bullish bias could return in the pair, but further wins should also stay capped by the 1.3735 level, that happens to be exactly the 38.2% retracement in weekly charts, from the long rally 1.6030/1.2330.