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27 Mar 2013
Forex: EUR/USD prints fresh session lows sub-1.2850 on the back of broad USD strength
FXstreet.com (Barcelona) - On the back of a broader USD strength move, and lack of news coming from the Eurozone, and actually from anywhere as current Asian session is a nice example of what boring means, EUR/USD is currently printing fresh session lows, last at 1.2845. If we looked at a 4H candlesticks chart, we would see a tiny doji candle with 12 pips distance between lows and highs. That would summarize it all pretty well.
As CMT and FXstreet.com Independent Analyst Fan Yang noted: “EUR/USD barely cracked its 1.2828 low on the week and consolidated in a near-term range roughly between 1.2895 and 1.2827,” the analyst says, adding: “A break below suggests bearish trend continuation with 1.2660-1.2680 in sight; a break above reflects choppy consolidation with an extension above 1.29 to possibly target 1.30,” he suggests.
Fan finds support levels at: 1.2765, 1.2796 and 1.2827, while resistance levels at: 1.2889,1.2920 and 1.2951.
As CMT and FXstreet.com Independent Analyst Fan Yang noted: “EUR/USD barely cracked its 1.2828 low on the week and consolidated in a near-term range roughly between 1.2895 and 1.2827,” the analyst says, adding: “A break below suggests bearish trend continuation with 1.2660-1.2680 in sight; a break above reflects choppy consolidation with an extension above 1.29 to possibly target 1.30,” he suggests.
Fan finds support levels at: 1.2765, 1.2796 and 1.2827, while resistance levels at: 1.2889,1.2920 and 1.2951.