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14 Jan 2015
EUR/USD might move towards 1.1680 levels in the short-term – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that EUR/USD might target the 1.1680 price zone in the short-term if the pair breaks below the immediate support at 1.1720 levels.
Key Quotes
“The EUR/USD has extended its decline to fresh multi-year lows at 1.1726, following the European Court ruling on OTM.”
“Technically, the 4 hours chart shows that the price has been contained below a flat 20 SMA on an early spike higher, while momentum presents a strong bearish slope below 100, keeping the risk to the downside. 1.1720 is now the immediate support to break, with the next short term bearish target in the 1.1680 price zone.”
“To the upside, sellers will probably surge on approaches to the 1.1800 figure. It will take a clear break above this last to see the pair recovering up to 1.1860, something quite unlikely at this point.”
Key Quotes
“The EUR/USD has extended its decline to fresh multi-year lows at 1.1726, following the European Court ruling on OTM.”
“Technically, the 4 hours chart shows that the price has been contained below a flat 20 SMA on an early spike higher, while momentum presents a strong bearish slope below 100, keeping the risk to the downside. 1.1720 is now the immediate support to break, with the next short term bearish target in the 1.1680 price zone.”
“To the upside, sellers will probably surge on approaches to the 1.1800 figure. It will take a clear break above this last to see the pair recovering up to 1.1860, something quite unlikely at this point.”