Technical Analysis: EURUSD falls to lowest level in three weeks
15 April 2015, 12:11
- 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 |