Forex: EUR/USD rejected by 1.3165 level

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Forex: EUR/USD rejected by 1.3165 level

FITITOL--> FXstreet.com (San Francisco) - After recovering from 1.3120, reached in the early American morning, the Euro has been trading higher against the Dollar with the pair trading above 1.3150 but being unable to break 1.3165 level.

The pair is currently pricing at 1.3159, 0.60% below opening price action. EUR/USD seems to be "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies.

“At the same time 20 SMA crosses upside down the 200 EMA, while in the 4 hours chart there is a strong bearish momentum that suggests more slides ahead, with 1.3070 and 1.3030 as next bearish targets”, wrote FXstreet.com independent analyst Valeria Bednarik.