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13 Apr 2015
EUR/USD: next stop 1.0500/10 – FXStreet
FXStreet (Barcelona) - With EUR/USD continuing its downslide, Valeria Bednarik, Chief Analyst at FXStreet, views that the pair might fall to 1.0500/10, below which 1.0461 will be exposed.
Key Quotes
“Technically, the 4 hours chart shows that the technical indicators resumed their decline despite near oversold territory, whilst the 20 SMA continues to head lower, now converging with the 61.8% retracement of the latest 3-week bullish run around 1.0690.”
“Additional declines below the 1.0550 price zone should lead to a test of the 1.0500/10 area, whilst if this last gives up, the pair may extend its decline down to the year low of 1.0461 set early March."
“The immediate resistance stands at 1.0610, and short term sellers should surge on approaches to it, with a break above it probably seeing the pair advancing up to 1.0650/60 as tops for the day.”
Key Quotes
“Technically, the 4 hours chart shows that the technical indicators resumed their decline despite near oversold territory, whilst the 20 SMA continues to head lower, now converging with the 61.8% retracement of the latest 3-week bullish run around 1.0690.”
“Additional declines below the 1.0550 price zone should lead to a test of the 1.0500/10 area, whilst if this last gives up, the pair may extend its decline down to the year low of 1.0461 set early March."
“The immediate resistance stands at 1.0610, and short term sellers should surge on approaches to it, with a break above it probably seeing the pair advancing up to 1.0650/60 as tops for the day.”