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11 May 2015
Currency news: EUR/USD starts the week with a negative tone – FXStreet
FXStreet (Barcelona) - With Eurogroup-Greece talks fuelling Dollar buying again, Valeria Bednarik, Chief Analyst at FXStreet, notes a key support stands at 1.1120, breaking below which EUR/USD might extend lower to 1.1050/60.
Key Quotes
“The pair has been trading below the 1.1200 level for most of the day, having been as low as 1.1132, finding short term buyers around the key Fibonacci support at 1.1120.”
“The EUR/USD 4 hours chart shows that the price fell further below its 20 SMA, currently in the 1.1270 region, whilst the technical indicators maintain their bearish slopes in negative territory, keeping the risk towards the downside.”
“The critical support stands at 1.1120, the mentioned Fibonacci level that represents the 61.8% retracement of the 1.1533/1.0461 decline, with a break below it favoring an extension down to the 1.1050/60 price zone.”
“A recovery above 1.1210 on the other hand, may see the pair recovering the lost ground, and advance towards the mentioned 20 SMA in the 1.1270 region.”
Key Quotes
“The pair has been trading below the 1.1200 level for most of the day, having been as low as 1.1132, finding short term buyers around the key Fibonacci support at 1.1120.”
“The EUR/USD 4 hours chart shows that the price fell further below its 20 SMA, currently in the 1.1270 region, whilst the technical indicators maintain their bearish slopes in negative territory, keeping the risk towards the downside.”
“The critical support stands at 1.1120, the mentioned Fibonacci level that represents the 61.8% retracement of the 1.1533/1.0461 decline, with a break below it favoring an extension down to the 1.1050/60 price zone.”
“A recovery above 1.1210 on the other hand, may see the pair recovering the lost ground, and advance towards the mentioned 20 SMA in the 1.1270 region.”