EURUSD was around $1.3434 at 7:38 a.m., little changed from July 25, when it reached $1.3422, the strongest since Nov. 21. The US currency was at 101.87 yen from 101.84 at the end of last week.
USD was about 1% from the strongest level in eight months against the EUR as investors raised bets it would climb versus the single currency to the most since November 2012.
The current downward tendency is expected to persist and could eventually result in a drop down to 1.28, the 2013 lows, even though a half of the monthly technical indicators are presently pointing upwards. However, if EURUSD does rally, the pair will most likely be stopped before it climbs over 1.36.
|EURUSD Pivot Levels||Pivot||Woodie||Fibonacci|