FXstreet.com (Barcelona) - After trading in a small range between 1.3230/85, along the European and American sessiÃ³n, the EUR/USD is testing the 1.3280 support again.
Currently, the pair is trading around 1.3270/80 after falling 0.72% from the opening price at 1.3374.
According to Valeria Bednarik, FXstreet.com collaborator, The pair has turned bearish in the hourly, after U.S. data publication: Pair is still range bound in bigger time frames, with the upside contained by the daily 200 EMA. The pair is moving inside a symmetrical triangle (continuation figure) but closer to the base than to e roof. Daily candle opening above the 1.3500 needs to be seen to consider the figure valid; under 1.3080, figure should be discarded, as the pair could quickly gain bearish momentum once that zone is cleared. 20 SMA in daily charts is containing the upside around 1.3340 and losing bullish inclination. In 4 hours charts the pair turned bearish, and after U.S. negative Retail Sales reading, Euro spike to a new intraday low of 1.3225. A tough congestion zone lies between 1.3210/30 that should hold the downside followed by the mentioned 1.3180 zone and then 1.3145. Above 1.3260 the pair could regain bullish momentum, although seems unlikely at the moment, with next resistances at 1.3260 and 1.3297.
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