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EUR/USD Classical Technical Report 04.04

By Joel Kruger, Technical Strategist
04 April 2012 05:50 GMT

Daily_Classical_EURUSD_body_eurusd.jpg, EUR/USD Classical Technical Report 04.04

EUR/USD: A break of some multi-session consolidation largely confined to the 1.3300’s is significant in the short-term and could now open the door for deeper setbacks over the coming sessions. Tuesday’s break and close below some key short-term support at 1.3250 highlights this fact, and now exposes a fresh drop towards medium-term support by 1.3000 further down. Back above 1.3400 would be required to negate bearish outlook and put pressure back on topside.

--- Written by Joel Kruger, Technical Currency Strategist

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04 April 2012 05:50 GMT