By
Ashraf Laidi |
Signals | Jun 24, 2011 10:06AM GMT |
EUR/USD is in a consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators are descending and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4311 and 1.3636.
Yesterday's massive sell-off bottomed at 1.4125, few pips above the dynamic support at 1.4104. Current bias is positive above 1.4200 support area, targeting 1.4315 resistance and I am tempted to expect a reversal in the 1.4315-4350 zone for one more slide below 1.4125.
| Resistance |
| support |
|
| intraday | intraweek | intraday | intraweek |
| 1.4278 | 1.4442 | 1.42 | 1.3969 |
| 1.435 | 1.47 | 1.4125 | 1.343 |
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