EUR/USD Interim Support is Near 1.1310
Chart Prepared by Jamie Saettele, CMT
-“EUR/USD took out major resistance (1.1460s) early this week before reversing at the underside of former trendline support. This is the same trendline that capped the February rally. Watch the internal trendline that was support on 4/22 and 4/25. Failure to hold that line would indicate a failed breakout. SSI has been net short since 3/3 on a daily close basis.” EUR/USD failed to hold ‘the line’ and the suggestion is that the breakout has failed.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.