Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - While above 1.3250 an upside bias is maintained, the EURUSD is sidelined in its tight range 1.3250-1.3400, and investors may be awaiting a move above 1.3405 to look for gains towards tough long term resistance at 1.3485/1.3560 (2012 high, a double Fibonacci retracement the 200 week moving average and the 55 MONTH moving average). "We look for this to hold the topside and provoke failure", wrote analyst Karen Jones. "Nearby support is 1.3250 - below here would leave the market vulnerable to a slide lower and heading back to the base of the channel at 1.3109", she added, pointing to key support at 1.3048 - the 6 month uptrend. A (not-favored) close above 1.3560 would target 1.3833, the 61.8% retracement of the move down from the 2011-2012 move.
comments powered by Disqus