3 Jul 2015
EUR/USD: Bullish bias might end below 1.1090 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Matias Salord, sees bearish potential for EUR/USD towards 1.1030 if the pair breaks below the key 1.1090 level.
Key Quotes
“The pair is moving higher on Friday, with the US dollar falling versus European currencies. EUR/USD currently is testing Thursday’s highs and attempting to rise above the 20-SMA. Below 1.1130 the upside should remain limited while a break higher would trigger a test of the bearish trendline that stands at 1.1160 (also where the 55-SMA is seen). A rupture of the line would be supportive of a bullish continuation. If it continues, resistances are seen at 1.1220 and 1.1270.”
“The bias that favors the euro in the short-term has a key support at 1.1090 where the hourly 20-SMA and an uptrend line stand. A break below would remove the bullish bias and it could open the door for a test of 1.1030.”
Key Quotes
“The pair is moving higher on Friday, with the US dollar falling versus European currencies. EUR/USD currently is testing Thursday’s highs and attempting to rise above the 20-SMA. Below 1.1130 the upside should remain limited while a break higher would trigger a test of the bearish trendline that stands at 1.1160 (also where the 55-SMA is seen). A rupture of the line would be supportive of a bullish continuation. If it continues, resistances are seen at 1.1220 and 1.1270.”
“The bias that favors the euro in the short-term has a key support at 1.1090 where the hourly 20-SMA and an uptrend line stand. A break below would remove the bullish bias and it could open the door for a test of 1.1030.”