Market Overview

Technical Forecast for EUR/USD

 

EURUSD made it much further than expected to 1.3314 but then collapsed. We are just holding on to support in the 1.3060/40 area & could see a bounce back to 1.3132, possibly 1.3190/00. 
Here we could hit selling pressure so watch for a high but a push through 1.3240 could see us reaching 1.3282/96. 
 
We are back in the long term down trend so any rally is expected to be short lived. A break below 1.3030 is very possible for 1.3000. Below here we could fall as far as 1.2890/80 before finding support. 

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets

 

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