9 Apr 2015
EUR/USD consolidation ahead, 1.0713 would cap losses – AceTrader
FXStreet (Barcelona) - The AceTrader Team sees a consolidative tone building up for EUR/USD, and expect the support at 1.0713 to hold the downside for the pair.
Key Quotes
“The single currency remained under pressure in early Asian trading after a roller-coaster session on Wednesday due to renewed broad-based buying in the greenback.”
“Price briefly penetrated o/n NY sup at 1.0763 to 1.061 as st specs gave euro another bashing at 1.0786 at Asian open on stop hunting, however, lack of follow-through selling quickly lifted the pair.”
“Although euro's sell off on Wednesday suggests near term fall from Monday's high of 1.1036 would resume after consolidation and selling on intra-day recovery is favoured, sharp fall is unlikely to be seen and reckon last week's bottom at 1.0713 would hold as broad outlook remains consolidative at the moment.”
“Offers are tipped at 1.0780-90 and then around 1.0800 with stops emerging above 1.0820, whilst bids are placed at 1.0750-40 and then 1.0720-10 with stops located just below 1.0700.”
Key Quotes
“The single currency remained under pressure in early Asian trading after a roller-coaster session on Wednesday due to renewed broad-based buying in the greenback.”
“Price briefly penetrated o/n NY sup at 1.0763 to 1.061 as st specs gave euro another bashing at 1.0786 at Asian open on stop hunting, however, lack of follow-through selling quickly lifted the pair.”
“Although euro's sell off on Wednesday suggests near term fall from Monday's high of 1.1036 would resume after consolidation and selling on intra-day recovery is favoured, sharp fall is unlikely to be seen and reckon last week's bottom at 1.0713 would hold as broad outlook remains consolidative at the moment.”
“Offers are tipped at 1.0780-90 and then around 1.0800 with stops emerging above 1.0820, whilst bids are placed at 1.0750-40 and then 1.0720-10 with stops located just below 1.0700.”