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9 Apr 2015
EUR/USD might see additional declines below 1.0710 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that EUR/USD exhibits limited upward potential and requires a break below 1.0710 to confirm additional declines.
Key Quotes
“Technically, the pair presents a limited upward potential in the short term, as the price remains below its 20 SMA, while the technical indicators are losing upward strength below their mid-lines.”
“In the 4 hours chart, the 20 SMA has turned lower around the 38.2% retracement of the latest bearish run in the 1.0865 region, whilst the technical indicators are turning slightly higher well below their mid-lines.”
“An intraday recovery may extend up to the mentioned 1.0865 price zone, with a break below 1.0710, 23.6% retracement of the same rally, required to confirm additional declines.“
“Support levels: 1.0750 1.0710 1.0665”
“Resistance levels: 1.0810 1.0865 1.0910”
Key Quotes
“Technically, the pair presents a limited upward potential in the short term, as the price remains below its 20 SMA, while the technical indicators are losing upward strength below their mid-lines.”
“In the 4 hours chart, the 20 SMA has turned lower around the 38.2% retracement of the latest bearish run in the 1.0865 region, whilst the technical indicators are turning slightly higher well below their mid-lines.”
“An intraday recovery may extend up to the mentioned 1.0865 price zone, with a break below 1.0710, 23.6% retracement of the same rally, required to confirm additional declines.“
“Support levels: 1.0750 1.0710 1.0665”
“Resistance levels: 1.0810 1.0865 1.0910”