2 Jul 2015
EUR/USD could see a dip towards 1.10 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that EUR/USD might run into sellers around 1.1070-1.11 levels and dip lower towards 1.10.
Key Quotes
“On the daily charts, the pair breached the rising trend line support on Wednesday as it close at 1.1037. A fresh attempt has been made today to sustain above the trend line resistance 1.1.068-1.1070. However, with the bearish daily close and bearish RSI on the daily and intraday time frame, the pair is likely to run into offers anywhere between 1.1070-1.11. The spot could drop to 1.10 levels.”
“On the higher side, only a break above 1.1130 could lead to short term bullish momentum in the pair.”
Key Quotes
“On the daily charts, the pair breached the rising trend line support on Wednesday as it close at 1.1037. A fresh attempt has been made today to sustain above the trend line resistance 1.1.068-1.1070. However, with the bearish daily close and bearish RSI on the daily and intraday time frame, the pair is likely to run into offers anywhere between 1.1070-1.11. The spot could drop to 1.10 levels.”
“On the higher side, only a break above 1.1130 could lead to short term bullish momentum in the pair.”