Forex: EUR/USD reverse down to 1.3200
FXstreet.com (Barcelona) - The EUR/USD rallied ahead of EMU’s confidence data
to print its high at 1.3263, but very poor figures saw risk sentiment
clearing out. The pair tumbled down, retracing its daily gains back to
the opening price at 1.3218 first.
A new wave of selling pressure threw the cross towards the psychological level at 1.3200, where the EUR/USD is now currently testing as support.
On the upside, double-Fibonacci barrier at 1.3230/40 zone and daily high at 1.3263 might be seen as resistance. “On the downside, 1.3170/50 zone offers good support, with break here to weaken short-term structure”, wrote Windsor Brokers analyst Slobodan Drvenica.
A new wave of selling pressure threw the cross towards the psychological level at 1.3200, where the EUR/USD is now currently testing as support.
On the upside, double-Fibonacci barrier at 1.3230/40 zone and daily high at 1.3263 might be seen as resistance. “On the downside, 1.3170/50 zone offers good support, with break here to weaken short-term structure”, wrote Windsor Brokers analyst Slobodan Drvenica.
EUR/USD Apr 26 at 12:08 GMT
1.3221/26 (0.05%)
H1.3266 L 1.3201
| S3 | S2 | S1 | R1 | R2 | R3 |
|---|---|---|---|---|---|
| 1.3148 | 1.3181 | 1.3214 | 1.3221 | 1.3254 | 1.3287 |
| Trend Index [?] | OB/OS Index [?] |
|---|---|
| Data updated on Apr 26 a 11:45 GMT (15-minute timeframe) | |
| Strongly Bearish | Overbought |
Category: Euro , Forex News , US Dollar
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