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Adding to EURUSD short from 1.3105

Adding to EURUSD short from 1.3105

David Rodriguez, Head of Product

I remain short EURUSD from 1.3150, and I've since added to the position on the EURUSD's failure to break above congestion resistance in the $1.3110-1.3130 range. I like the position on a hold of Thursday's high of $1.3163, and I'm targeting a break of $1.3100.

The US Dollar remains at pivotal resistance. A break higher here (lower in the EURUSD) would suggest a EURUSD run towards January lows of $1.26 is in the cards.

--- Written by David Rodríguez, Quantitative Strategist for DailyFX.com

To receive this author's reports via e-mail, contact drodriguez@dailyfx.com with subject line "Distribution List".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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