FX.co ★ Technical analysis of EUR/USD for February 03, 2014

EUR/USD has broken the seven-month raising lower trend line. Oscillators gave a negative divergence indication. We recommended selling at the level of 1.3655 in our previous report dated January 29, 2014. Yesterday's low was very crucial in coming trading session. Due to oversold zones we could expect a pullback of the price, cmp 1.3484. A break below 1.3480 will show next support at the levels of 1.3460 and 1.3400. Bulls can be comfortable with recovery only if the area of 1.3479/1.3480 holds. I hope it holds for today, let us see if this can be real.

Support: 1.3480.

Resistance: 1.35, 1.3524, 1.3574.

The previous chart