16 Feb 2015
EUR/USD steady below 1.1440 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for EUR/USD, noting that the pair requires a break above 1.1440 to be able to extend its recovery towards 1.1500 levels.
Key Quotes
“The EUR/USD pair found again selling interest around 1.1430, the 23.6% retracement of the latest daily bullish run.”
“From a technical point of view, the 4 hours chart shows that the price holds above a mild bullish 20 SMA that converges with the 38.2% retracement of the same rally around 1.1375, but that the technical indicators lost their upward potential, and now head lower towards their midlines.”
“The pair has to break above the 1.1440 price zone to be able to extend its recovery pointing then for an approach to the 1.1500 price zone.”
“A break below 1.1360 on the other hand should see the pair falling towards the 1.1320 price zone, whilst an extension beyond this last may see the pair falling down to the 1.1250/80 price zone.”
Key Quotes
“The EUR/USD pair found again selling interest around 1.1430, the 23.6% retracement of the latest daily bullish run.”
“From a technical point of view, the 4 hours chart shows that the price holds above a mild bullish 20 SMA that converges with the 38.2% retracement of the same rally around 1.1375, but that the technical indicators lost their upward potential, and now head lower towards their midlines.”
“The pair has to break above the 1.1440 price zone to be able to extend its recovery pointing then for an approach to the 1.1500 price zone.”
“A break below 1.1360 on the other hand should see the pair falling towards the 1.1320 price zone, whilst an extension beyond this last may see the pair falling down to the 1.1250/80 price zone.”