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3 Mar 2015
EUR/USD: lower lows supporting additional declines – FXStreet
FXStreet (Barcelona) - The EUR/USD pair trades soft printing lower lows, with the 20 SMA limiting the upside for the pair, notes Valeria Bednarik, Chief Analyst at FXStreet, as she shares the technical outlook for the single currency.
Key Quotes
“The bearish trend ruling the EUR/USD pair, took another step this Tuesday, with the pair falling down to 1.1154, a couple of pips below its previous low, whilst the upside was limited by selling interest around the 1.1210 level.”
“Earlier in the day German Retail Sales surged 5.3% yearly basis, supporting the short lived spike to the mentioned daily high."
“As the US session starts, the pair trades below its 20 SMA in the 1 hour chart, while the technical indicators aim higher below their midlines, reflecting the latest bounce from the daily low, but far from suggesting a strong advance on the makes.”
“In the 4 hours chart, the price stands below a strongly bearish 20 SMA whilst the Momentum indicator lies flat below 100 and the RSI holds at 41, all of which should continue to keep the upside limited.”
“Support levels: 1.1140 1.1095 1.1050”
“Resistance levels: 1.1210 1.1250 1.1285”
Key Quotes
“The bearish trend ruling the EUR/USD pair, took another step this Tuesday, with the pair falling down to 1.1154, a couple of pips below its previous low, whilst the upside was limited by selling interest around the 1.1210 level.”
“Earlier in the day German Retail Sales surged 5.3% yearly basis, supporting the short lived spike to the mentioned daily high."
“As the US session starts, the pair trades below its 20 SMA in the 1 hour chart, while the technical indicators aim higher below their midlines, reflecting the latest bounce from the daily low, but far from suggesting a strong advance on the makes.”
“In the 4 hours chart, the price stands below a strongly bearish 20 SMA whilst the Momentum indicator lies flat below 100 and the RSI holds at 41, all of which should continue to keep the upside limited.”
“Support levels: 1.1140 1.1095 1.1050”
“Resistance levels: 1.1210 1.1250 1.1285”