(17 April 2017)EUR / USD:Test of resistance.

(17 April 2017)EUR / USD:Test of resistance.

18 April 2017, 10:46
Jiming Huang
0
42


EUR


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 )

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