(30 OCTOBER 2017)EUR / USD:Sharp decline.

(30 OCTOBER 2017)EUR / USD:Sharp decline.

30 October 2017, 12:30
Jiming Huang
0
23

eur


Sharp decline.

(By Yann Quelenn)

• EUR/USD has broken support at 1.1725

(23/10/20107 low) which has triggered bearish

extension to strong support given at a distance

at 1.1613 (26/07/2017 low). Key resistance is

located at 1.1878 (12/10/2017 high). Expected to

show renewed short-term consolidation.

• In the longer term, the momentum is now

turning largely positive. We favour a continued

bullish bias. Key resistance is holding at 1.2252

(25/12/2014 high) while strong support lies at

1.0341 (03/01/2017 low).

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