EUR/USD Open 1.3198 High 1.3358 Low 1.3207 Close 1.3191
The Euro depreciated on Monday. Euro/Dollar decreased from 1.3358 to 1.3157 yesterday, in line with the Interbank sentiment projection, at around -10%, closing the day at 1.3191. On the 1 hour chart the downward remains intact for now, as crisis problems in Europe continue. Break above the nearest resistance and yesterday’s top at 1.3358 may lead to further recovery of the Euro. Going bellow yesterday’s bottom and first support at 1.3207, however, should confirm continuation of the bearish trend, towards next target 1.3116. Today’s focus is on EU 16 PPI for March at 9 GMT. Quotes are moving bellow the the 20 and 50EMA on the 1 hour chart, indicating bearish pressure. The value of all RSI indicator is positive and rising, MACD is negative and quiet, while CCI is negative and calm on the 1 hour chart, giving overall mixed signals.
Technical resistance levels: 1.3358 1.3445 1.3562
Technical support levels: 1.3207 1.3116 1.3028
Trading range: 1.3225 – 1.3160
Sell at 1.3213 SL 1.3243 TP 1.3173
Written by iFOREX.bg