EUR/USD support holding, for now

FXStreet (Córdoba) - The EUR/USD resumed the downside following a short-lived bounce, but the 1.3520 support area managed to contain the downside once again.

EUR/USD weighed by widening spreads

The euro has came under renewed pressure this week as European Central Bank easing measures sent the US-Eurozone 2-year spreads to levels not seen since 2007, increasing carry trades flows. However, the 1.3520/1.3475 area seems a tough support for the EUR/USD. At time of writing, the pair is trading at 1.3530, 0.26% below its opening price, having bounced from a low of 1.3520 in recent dealings.

EUR/USD technical levels

Immediate supports are seen at 1.3520/15 (Jun 11 low/38.2% Fibo of 1.2746/1.3993), 1.3500 (psychological level) and 1.3476 (2014 low Feb 3). On the flip side, resistances could be found at 1.3547 (Jun 11 high), 1.3600/02 (Jun 10 high/psychological level/10-day SMA) and 1.3657 (200-day SMA).