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Forex pairs in this Article » EUR/USD
FXstreet.com (Córdoba) - The euro extended its pullback from a 1-month high of 1.3011 while stocks erased completely its gains after Republican leader Boehner said that no substantive progress has been made in two weeks of talks. Yesterday, Mr. Boehner had said he was optimistic a deal to avoid the fiscal cliff will be reached.

EURUSD fell quickly to the 1.2944 zone although it found support as well as Wall Street indexes. At time of writing, EURUSD is trading at the 1.2960 zone, still up 0.1% on the day.

According to Slobodan Drvenica, analyst at Windsor Brokers Ltd, positive hourly studies have been dented by recent fall, while bearish divergence, appearing on 4h chart warns of possible failure at 1.3000 and fresh slide that would be confirmed on today's close below the latter and break below day's low at 1.2938. "Otherwise, retest of 1.3000 would stay in play, as break here is seen as a trigger for resumption of near-term recovery from 1.2660, 13 Nov low and open 1.3020/25, then 1.3070, next upside targets", the analyst added.
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