EUR Trading Outlook
TECHNICALS: The daily chart continues to look heavily oversold (see chart) but we may simply get an extended period of sideways trading rather than a sharp retracement. The shorter-term charts were unable to confirm support at .9230 so this becomes the first level of resistance. The short-term downside target is at .9130.
TECHNICALS: The short-term charts are starting to look moderately constructive, trying to form support levels now near .9230 (see chart). The resistance levels are quite clear at .9330/40 but a clean break above there would open the way for a test of medium-term technical resistance levels closer to .9600.
Go to Euro (EUR) Archive