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Despite some positive readings early Europe, the EUR/USD ends the day below the 1.3200, barely holding above key support area around 1.3070/80. While risk aversion eased around the world on this Monday, as Asian and European shares surged, the pair was unable to recover ground, trading below 1.3225 that remains as immediate short term resistance. Ahead of Asian opening, the hourly chart shows a neutral technical stance, as per indicators hovering around their midlines and price below a flat 20 SMA, but the overall bearish sentiment prevails in the pair, as the 4 hours chart also shows a negative tone coming from technical readings. As commented on previous update, the key support continues to be the 1.3170/80 price zone, last month low and 38.2% retracement of the July/August bullish run.
