9 Mar 2015
Parity level starts to emerge in EUR/USD’s horizon – TDS
FXStreet (Edinburgh) - In the view of strategists at TD Securities, there are just a few levels of support before the pair reaches parity.
Key Quotes
“The longer-term charts echo the message from the short-term technical picture—there is a fair bit more downside movement to come in this market”.
“With the EUR now trading decisively below retracement support around 1.12, par (or 1.0074 as the 76.4% retracement specifically) is the next obvious objective—in line with the message from the daily chart”.
“We see some potential support at 1.0765 (lows from 2003) just under the market but we doubt this area will provide much in the way of durable underpinning for the
EUR”.
Key Quotes
“The longer-term charts echo the message from the short-term technical picture—there is a fair bit more downside movement to come in this market”.
“With the EUR now trading decisively below retracement support around 1.12, par (or 1.0074 as the 76.4% retracement specifically) is the next obvious objective—in line with the message from the daily chart”.
“We see some potential support at 1.0765 (lows from 2003) just under the market but we doubt this area will provide much in the way of durable underpinning for the
EUR”.