FX : EUR/USD: Euro, in range after hitting one-week high at 1.4360
FXstreet.com (Barcelona) - Euro rally from 1.4190 low on Friday has extended to 1.4360 high on European session and the Euro has remained hovering between 1.4340/55 for most of the European session.
Above 1.4365 intra-day high, next resistance levels lie at 1.4375 (Sept 1 high) and 1.4405 (Aug 27 high). On the downside, initial support lies at 1.4315/25, and below there, 1.4285 and 1.4230.
According to Greg Holden, technical analyst at ForexYard, a bearish cross on 4hr charts slow stochastics might advance a downwaerd move: "The daily chart is showing mixed signals with its RSI fluctuating at the neutral territory. However, there is a fresh bearish cross forming on the 4-hour chart's Slow Stochastic indicating a bearish correction might take place in the nearest future. Going short might be a wise choice."
