EURUSD: With EUR seen taking back most of its rally gains on Thursday, further weakness is now envisaged. Resistance is seen at 1.0750 level with a cut through here opening the door for more downside towards the 1.0800 level.
Further up, resistance lies at the 1.0850 level where a break will expose the 1.0900 level. On the downside, support lies at the 1.0650 level where a violation will aim at the 1.0600 level. A break of here will aim at the 1.0550 level, its psycho level with a turn below that level targeting the 1.0500 level. All in all, EUR remains biased to the downside in the medium term.
In our latest podcast, we discuss QE: Who got it right, Krugman or the Gold bugs?
Follow us on the iTunes page
Share
