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8 Jan 2015
EUR/USD sellers now around 1.1800 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the immediate resistance for the EUR/USD pair now lies at 1.1800, as the pair slid towards 1.1770 levels on broad USD strength, further anticipating the pair to extend its decline to 1.1710 levels on a break below 1.1750.
Key Quotes
“The EUR/USD pair broke below the 1.1800 mark on broad dollar strength, extending its decline after EZ poor confidence and industrial producer prices readings, and despite Retail Sales surged 0.6% in November. The pair trades at its lowest since December 2005, hovering around 1.1770.”
“Technical readings show the pair is extremely oversold in almost any time frame, yet at the same time, there are no signs a bottom have been reached. The 4 hours chart shows a strong bearish momentum, whilst RSI also aims lower despite around 17, supporting some further declines ahead.”
“Short term, a break through 1.1750 should see the pair extending its decline down to 1.1710, while next strong support comes at 1.1650 price zone.”
“The immediate resistance is now 1.1800, with small selling interest probably surging on approaches to it. A recovery above it may extend up to 1.1830/50 but further gains are seen limited today, ahead of tomorrow US employment figures.”
Key Quotes
“The EUR/USD pair broke below the 1.1800 mark on broad dollar strength, extending its decline after EZ poor confidence and industrial producer prices readings, and despite Retail Sales surged 0.6% in November. The pair trades at its lowest since December 2005, hovering around 1.1770.”
“Technical readings show the pair is extremely oversold in almost any time frame, yet at the same time, there are no signs a bottom have been reached. The 4 hours chart shows a strong bearish momentum, whilst RSI also aims lower despite around 17, supporting some further declines ahead.”
“Short term, a break through 1.1750 should see the pair extending its decline down to 1.1710, while next strong support comes at 1.1650 price zone.”
“The immediate resistance is now 1.1800, with small selling interest probably surging on approaches to it. A recovery above it may extend up to 1.1830/50 but further gains are seen limited today, ahead of tomorrow US employment figures.”