Technical Analysis: EURUSD falls to lowest level in three weeks

Technical Analysis: EURUSD falls to lowest level in three weeks

15 April 2015, 12:11
Sergey Golubev
8
626
  • EUR/USD broke below the 78.6% retracement of the late-March range yesterday
  • While below 1.0830 our near-term trend bias is lower in the euro
  • The 127% extension of the 2005-2008 adavance around 1.0440 looks to be the next major pivot for the rate
  • A minor turn window is eyed around the end of the week
  • Interim resistance is seen around 1.0685, but only a move through 1.0830 would turn us positive on the single currency

Instrument Support 2 Support 1 Spot Resistance 1 Resistance 2
EURUSD 1.0440 1.0520 1.0565 1.0585 1.0685

Share it with friends: