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EUR/USD Eases Towards 100 Day Average

EUR/USD Eases Towards 100 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Eases Towards 100 Day Average

Chart Prepared by Jamie Saettele, CMT

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-The last EUR/USD update noted that “big levels provide the impetus for big moves. EUR/USD has dumped and this is the largest 3 day drop since mid-December (which was a low by the way). From here, I’d watch the 100 day average for a response. The average was resistance in November and January.” Price has dropped within 20 pips of the 100 day average. I’d still watch the level for a reaction (support). A proposed trendline is lower still…closer to 1.0585 over the next few days.

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