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EUR/USD Classical Technical Report 02.21

Tuesday, 21 February 2012 07:06 GMT

by  Joel Kruger, Technical Strategist

Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 02.21

EUR/USD: Inability to close below previous key support at 1.3025 leaves the market locked in some multi-day consolidation, with no clear short-term directional bias. At this point, the key levels to watch above and below comes in by 1.3325 and 1.2970 respectively, and a daily close above or below will be required to open the door for the next major move. Until then, we can expect to see some choppy inter-day trade.

--- Written by Joel Kruger, Technical Currency Strategist

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