23 Jan 2014
EUR/USD to come under pressure?
FXstreet.com (Guatemala) - EUR/USD has been a choppy play within a 1.3539-83 range in NY and markets have been digesting the idea that the Fed Fed might taper its QE program by another $10bn next week.
Karen Jones, chief strategist at Commerzbank noted that the EUR/USD continues to sit on the 1.3516/1.3495 band of support. “We are alert to the idea that this holding on the initial test and we would allow for a small rebound. Failure here should be enough to trigger the next leg lower. We continue to look for the market to come under pressure and target 1.3353/1.3295 (recent low, Fibo and 200 day ma)”.
EUR/USD Levels
The 20 DMA is 1.3646, the 50 DMA is 1.3626 and the 200 DMA is 1.3350. RSI (14) reads 46.24. Supports are ascending from 1.3417, 1.3490, 1.3508, 1.3517. Spot is 1.3547 while resistances are 1.3586, 1.3598, 1.3624 and 1.3650.
Karen Jones, chief strategist at Commerzbank noted that the EUR/USD continues to sit on the 1.3516/1.3495 band of support. “We are alert to the idea that this holding on the initial test and we would allow for a small rebound. Failure here should be enough to trigger the next leg lower. We continue to look for the market to come under pressure and target 1.3353/1.3295 (recent low, Fibo and 200 day ma)”.
EUR/USD Levels
The 20 DMA is 1.3646, the 50 DMA is 1.3626 and the 200 DMA is 1.3350. RSI (14) reads 46.24. Supports are ascending from 1.3417, 1.3490, 1.3508, 1.3517. Spot is 1.3547 while resistances are 1.3586, 1.3598, 1.3624 and 1.3650.