Test of resistance.
• EUR/USD has improved, yet failure to break
resistance suggest a reversal. Monitor the
resistances area given by 1.0679. Hourly support
can be found at 1.0650 (intraday base) then
1.0570 (11.04.2017 low). Stronger support can be
found at 1.0494 (22/02/2017 low). A key
resistance stands at 1.0874.
• In the longer term, the death cross late
October indicated a further bearish bias. The
pair has broken key support given at 1.0458
(16/03/2015 low). Key resistance holds at 1.1714
(24/08/2015 high). Expected to head towards
parity.
(By Peter Rosenstreich )
