23 Jan 2014
Flash: EUR/USD 100 DMA resistance - BBH
FXstreet.com (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted how the 100 DMA is becoming increasingly technically important.
Key Quotes
"The euro... moving to test the 100-day moving average (~$1.3575) was turned back. This area is becoming increasingly technically important."
"That average has marked the rally in the euro since mid-2013 and the euro has not closed below it since September, which was the first time since July. Yet, since breaking through there at the end of last week, the euro has been unable to resurface it this week."
Key Quotes
"The euro... moving to test the 100-day moving average (~$1.3575) was turned back. This area is becoming increasingly technically important."
"That average has marked the rally in the euro since mid-2013 and the euro has not closed below it since September, which was the first time since July. Yet, since breaking through there at the end of last week, the euro has been unable to resurface it this week."