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EUR/USD Classical Technical Report 04.17

By Joel Kruger, Technical Strategist
17 April 2012 06:24 GMT
Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 04.17

EUR/USD: The latest round of setbacks have stalled ahead of some key multi-week support by 1.3000 and from here, we still can not rule out risks for additional consolidation above 1.3000 before considering bearish resumption. Ultimately, any rallies towards 1.3300 should be very well capped, while a break and daily close back under 1.3000 would accelerate declines.

--- Written by Joel Kruger, Technical Currency Strategist

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17 April 2012 06:24 GMT