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EUR/USD: Support At 1.3625/20

Published 02/12/2014, 07:01 AM
Updated 07/09/2023, 06:32 AM

We saw the move to 1.3677 and now we are trading back a little. Markets have been quiet and the euro is currently back below the Daily Pivot located at 1.3650, with the high being 1.3647. If this continues going into the US session we shall see further weakness.

Now we know we have support at 1.3625/20. If we fail to hold over here further weakness will be evident with 1.3585/80 the short term objective. Here cover all short positions. Now we only want to be short if below 1.3580. If seen we see 1.3540 to 1.3500 as a nearby targeted area.

Resistance remains in the 1.3650 area. Now, if the can take us above here we see 1.3675/90 as a realistic target. Here cover longs. Attempt small shorts keeping stops then above 1.3711.

<span class=EUR/USD Daily Chart" title="EUR/USD Daily Chart" width="474" height="242">

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