27 Apr 2015
EUR/USD requires a break below 1.08 to see additional declines – FXStreet
FXStreet (Barcelona) - With USD advancing in the Monday trade, EUR/USD risks a move lower towards 1.0750/60 if the pair breaks below the short-term support at 1.08 levels, explains Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“In the 4 hours chart, the 20 SMA maintains a bullish slope, acting as immediate short term support in the 1.0800 region, whilst the technical indicators are turning slowly lower in positive territory, far from suggesting a stronger decline.”
“As long as the price continues to struggle around the 1.0840 level, there's little clues on what's next for the pair.”
“A break below 1.0800 is required to confirm a new leg lower, targeting then the 1.0750/60 region, whilst a recovery above the 1.0860 level may see the pair attempting to retest 1.0900. Beyond this last, 1.0950 comes next.”
Key Quotes
“In the 4 hours chart, the 20 SMA maintains a bullish slope, acting as immediate short term support in the 1.0800 region, whilst the technical indicators are turning slowly lower in positive territory, far from suggesting a stronger decline.”
“As long as the price continues to struggle around the 1.0840 level, there's little clues on what's next for the pair.”
“A break below 1.0800 is required to confirm a new leg lower, targeting then the 1.0750/60 region, whilst a recovery above the 1.0860 level may see the pair attempting to retest 1.0900. Beyond this last, 1.0950 comes next.”