23 Dec 2014
EUR/USD back to retest 1.2160
FXStreet (San Francisco) - The EUR/USD tried a rebound from 1.2160 but it was useless because the couple was not far from the minimum. After a brief trip to 1.2180, EUR/USD is again testing lows.
Currently, EUR/USD is trading at 1.2172, down 0.44% on the day, having posted a daily high at 1.2247 and low at 1.2165. EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
EUR/USD sentiment
In an interview in the Live Analysis Room, ForexLive™'s managing editor Adam Button said "January seasonals favor continued Dollar strength." In this framework, "the EUR/USD could trade down to 1.1500 after breaking the 1.1900 key support."
As for the short term, Below the 1.2160, next supports are at 1.2130 and 1.2080. To the upside, resistances are at 1.2180, 1.2220 and 1.2245.
Currently, EUR/USD is trading at 1.2172, down 0.44% on the day, having posted a daily high at 1.2247 and low at 1.2165. EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
EUR/USD sentiment
In an interview in the Live Analysis Room, ForexLive™'s managing editor Adam Button said "January seasonals favor continued Dollar strength." In this framework, "the EUR/USD could trade down to 1.1500 after breaking the 1.1900 key support."
As for the short term, Below the 1.2160, next supports are at 1.2130 and 1.2080. To the upside, resistances are at 1.2180, 1.2220 and 1.2245.