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9 Apr 2015
EUR/USD: large stops below 1.0710 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the key technical levels for EUR/USD, expecting a decline towards 1.0660 if the pair breaks below the immediate support at 1.0710.
Key Quotes
“The 4 hours chart shows that the price extended further below its 20 SMA, whilst the technical indicators resumed their decline in negative territory with the European opening, supporting additional declines.”
“The immediate support comes at 1.0710, the 23.6% retracement of the February/March decline, level that contained the downside during the past week.”
“A break below it should therefore trigger stops, and see the pair extending its decline down to the 1.0660 price zone. Beyond this last, the next support comes at 1.0620.”
“Intraday, the immediate resistance comes at 1.0755, followed by the 1.0800 level, that would likely attract selling interest if reached.”
Key Quotes
“The 4 hours chart shows that the price extended further below its 20 SMA, whilst the technical indicators resumed their decline in negative territory with the European opening, supporting additional declines.”
“The immediate support comes at 1.0710, the 23.6% retracement of the February/March decline, level that contained the downside during the past week.”
“A break below it should therefore trigger stops, and see the pair extending its decline down to the 1.0660 price zone. Beyond this last, the next support comes at 1.0620.”
“Intraday, the immediate resistance comes at 1.0755, followed by the 1.0800 level, that would likely attract selling interest if reached.”