FXstreet.com (Sydney) - The EUR/USD finished on 1.4718 yesterday down slightly from the previous close at 1.4765. James Chen, chief technical analyst at FX solutions says that while this represents a minor breach in the upward trend seen since March, the prevailing uptrend is still technically considered to be intact.
The currency is currently moving in a narrow range with supports on the downside 1.4680 and on the upside at 1.4860. The likely trend however is sideways suggesting indecision in the market. The Dow Jones ended yesterday's session 17.30 down to 9771.91. Across the Atlantic, European shares hit a one-month closing low. People are worries about the banking sector once again because we have had a couple of European results that were somewhat worse than expected, said Luc Van Heckla, chief economist at KBC Securities.