EUR/USD Classical Technical Report 12.02
EUR/USD: Although we retain a core bearish outlook, the Euro looks like it is attempting to carve out another base after stalling ahead of critical support by 1.3145. From here, we can’t rule out the possibility of a rally back towards the 1.3800 area before a bearish resumption. The key level to watch above comes in at 1.3535, and a daily close above could very well accelerate gains towards 1.3800. Inability to establish back above 1.3535 however, will keep the focus on the downside and the 1.3145 critical October lows.
--- Written by Joel Kruger, Technical Currency Strategist
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