EUR/USD: Weekly MACD Still Below Resistance Line - SocGen
11 December 2015, 01:27
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EUR/USD weekly MACD indicator is still below a resistance line which suggests upside is limited, notes SocGen.
"The pair has achieved an initial target at 1.1010/85, i.e. September lows.
With the daily stochastic close to a resistance line, the flag limit at 1.1270 should cap upside.
1.08 will be a short-term support while 1.05/1.04 will determine whether the extended downtrend takes shape," SocGen adds.
