EUR/USD Analysis (August 5)

The pair has confirmed some bearish pressure yesterday after the statement from ECB President Trichet. We did see a break below 1,4140 (friday low) which now exposes key 1,40 support with a possible extension towards 1,3940 (daily 200 moving average).
Only a break back above 1,4375 (weekly high) would leviate the downside pressure.
The US employment data released today will certainly infuence immediate price action and we will see if the bearish resumption is confirmed.