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EUR/USD Rally Stalls at February Support

EUR/USD Rally Stalls at February Support

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-โ€œThe break above the resistance line (old support) indicates that behavior has changed. Looks towards 1.1270.โ€

-1.1270 was reached and slightly exceeded. EURUSD is at resistance from lows in Feb (former support) and a parallel that was resistance in Oct and Nov. Near term risk is lower as long at these levels.

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