26 May 2015
EUR/USD requires a move below 1.0870 to see further declines – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes EUR/USD technicals have turned back lower but the pair requires a break below 1.0870 to see declines towards 1.08 area.
Key Quotes
“The first key macroeconomic release in the US, the Durable Goods Orders for April fell 0.5%, although the Core reading surge 0.5% whist previous month figures were strongly revised higher. The dollar got a boost despite the monthly decline, and the EUR/USD fell down to test its low following the release.”
“Technically, the 1 hour chart shows that the technical indicators have turned back lower below their mid-lines, whilst the 20 SMA provided intraday resistance.”
“In the 4 hours chart, the price remains well below its moving averages, whilst the Momentum indicator heads strongly lower well below their mid-lines as the RSI consolidates around 28.”
“Renewed selling interest below 1.0870, the immediate support, is now required to confirm a later approach to the 1.0800 region before the day is over.”
“Support levels: 1.0870 1.0830 1.0800”
“Resistance levels: 1.0940 1.0975 1.1010”
Key Quotes
“The first key macroeconomic release in the US, the Durable Goods Orders for April fell 0.5%, although the Core reading surge 0.5% whist previous month figures were strongly revised higher. The dollar got a boost despite the monthly decline, and the EUR/USD fell down to test its low following the release.”
“Technically, the 1 hour chart shows that the technical indicators have turned back lower below their mid-lines, whilst the 20 SMA provided intraday resistance.”
“In the 4 hours chart, the price remains well below its moving averages, whilst the Momentum indicator heads strongly lower well below their mid-lines as the RSI consolidates around 28.”
“Renewed selling interest below 1.0870, the immediate support, is now required to confirm a later approach to the 1.0800 region before the day is over.”
“Support levels: 1.0870 1.0830 1.0800”
“Resistance levels: 1.0940 1.0975 1.1010”