EUR/USD started the new week with a fresh fall, but found support at the closest level, as it finds it hard to find good news, with bigger countries endangered by the debt crisis. Will it continue lower? Here’s a quick update on technicals, fundamentals and community trends. Euro/Dollar sliding down. EUR/USD Technicals Asian session: Choppy session saw the pair in tight range. Current Range between 1.3114 to 1.13180. Further levels in both directions: Below 1.3114, 1.30, 1.2920, 1.2722, 1.2587. Above 1.3180, 1.3267, 1.3334, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.3114 is now strong support. 1.3440 is important resistance above and remains as such after a breakout attempt failed. EUR/USD Fundamentals – 7:00 German PPI. Exp. +0.4%. Actual +0.2%. 9:00 European Current Account. Exp. -6.2 billion. Actual -9.8 billion. Both figures negative for Eur. 15:00 European Consumer Confidence. Exp. -9 points. * All times are GMT. For the major events due later in the week, see the EUR/USD outlook EUR/USD Sentiment France is danger of suffering a credit rating downgrade – France is Europe’s second largest economy. A downgrade or a warning will send the Euro way down. There are fresh worries if the Irish bailout will indeed work out. Spanish bonds yields are still high on Moody’s warns of a downgrade. Moody’s downgrades Ireland from AA2 to BAA1. No real surprise here. China says it will wait with rate hikes due to market turbulence. No rate hike is good for the Euro. US bond yields take a break – they went up to 3.57% but closed under 3.50%. This mostly affects USD/JPY, but also EUR/USD. Currensee Community: 50% are long , 50% are short. These are 1248 open positions in real accounts trading this pair at the moment. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Other Forex Stuff share Read Next AUD/USD – Steady in Range Yohay Elam 12 years EUR/USD started the new week with a fresh fall, but found support at the closest level, as it finds it hard to find good news, with bigger countries endangered by the debt crisis. Will it continue lower? Here's a quick update on technicals, fundamentals and community trends. Euro/Dollar sliding down. EUR/USD Technicals Asian session: Choppy session saw the pair in tight range. Current Range between 1.3114 to 1.13180. Further levels in both directions: Below 1.3114, 1.30, 1.2920, 1.2722, 1.2587. Above 1.3180, 1.3267, 1.3334, 1.3576, 1.37, 1.3786, 1.3950 and 1.4030. 1.3114 is now strong support. 1.3440 is important resistance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.