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May 25, 2012 02:35PM GMT
     
 
  New York   London   Tokyo 
   
 

EURUSD steps down…1.3681 eyed

By   |  Technical Analysis  |  Oct 20, 2011 10:41AM GMT  |  Add a Comment
 


Some order has returned to the EURUSD and the downside has won. The order has come by using the 1.3738 level (200 hour MA) as the level to lean against and the price has rotated to new NY lows.   The pair is approaching support against the 1.3681 level. This is 38.2% of the move down from the August high. It is also a level which provided support and resistance over the last month / few weeks of trading (see charts).


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