EUR/USD Open 1.3737 High 1.3810 Low 1.3650 Close 1.3735
Euro/Dollar appreciation continued only a little longer on Wednesday on renewed risk appetite, and in line with the the Interbank sentiment projection at -13.72%. The currency couple climbed to 1.3810 yesterday, from where started decreasing down to 1.3729 , closing the day at 1.3735. The maintaining of the secondary bullish channel on the 3 hour chart is valid for now, especially is we see convincing pull above the nearest resistance and today’s and Friday’s top at 1.3789, which we will observe for medium term outlook. Going bellow Tuesday’s bottom and nearest support for today at 1.3650, however, should confirm continuation of the bearish trend, towards next target 1.3541. Today are the EU 16 Current account and the Trade balance at 9:00 and 10:00 GMT respectively. Quotes are moving bellow the 50 and 20 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI, MACD and CCI indicators are all negative and declining on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.3810 1.3895 1.4000
Technical support levels: 1.3650 1.3541 1.3468
Trading range: 1.3705 – 1.3640
Sell at 1.3692 SL 1.3722 TP 1.3652
Written by iFOREX.bg