FX.co ★ Intraday technical levels and trading recommendations for EUR/USD for April 11, 2014

Daily fixation below 1.3870 gathered enough bearish pressure to push the pair towards the recent demand zone around 1.3700.

At the end of the previous week, significant bullish pressure was applied at 1.3700 which paused the recent slide off 1.3965 pushing again above 1.3800.

It's important to note that the EUR/USD pair established a new supply zone at 1.3850-1.3880. It rejected the bulls on December 27 strongly, so any further visits should be considered for selling until proven otherwise.

That's why, bearish pressure is expected to be applied at the current prices. However, some sideway consolidation that may reach 1.3900 isn't excluded to occur before bearish impulse is initiated.

Since the EUR/USD pair broke below 1.3855, the pair has roughly been moving sideways with slight bearish tendency until bullish breakout above 1.3810 took place yesterday.

The depicted uptrend line came to meet the pair roughly at 1.3700-1.3680 enhancing this price zone as a significant intraday demand. This led to the recent bullish impulse above 1.3810 and 1.3855.

Price zone of 1.3880-1.3900 should be considered for selling as long as 1.3945 remains defended by the bears.