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EUR/USD – Lots of Technical Consideration near 1.1175

EUR/USD – Lots of Technical Consideration near 1.1175

2016-11-03 21:32:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD – Lots of Technical Consideration near 1.1175

Chart Prepared by Jamie Saettele, CMT

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-EUR/USD has pressed into former support from the September lows in the low 1.1120s. The current horizontal level has been a pivot on numerous occasions since January 2015. Still, technical consideration extends into a trendline confluence and the 200 day average near 1.1175. Current conditions are certainly headline driven but there may be something bigger at work here as the impulsive nature of the advance from the late October low warns of a more important behavioral shift.

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