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EUR/USD: Recent Low at 1.2844 is Challenged

By: MIG Bank | Tuesday, March 26, 2013

EUR/USD erased yesterday the entire rise made since 19 March. Monitor the test of the support at 1.2844. Another support is at 1.2662 (13/11/2012 low). Hourly resistances can be found at 1.2943 (intraday low) and 1.3048 (25/03/2013 high).

The technical improvements, exhibited with the rise from 1.2043 (24/07/2012 low) to 1.3711 (01/02/2013 high), are put in doubt with the bearish breakout at 1.2998 (04/01/2013 low). Monitor the key supports at 1.2877 (07/12/2012 low) and 1.2662 (13/11/2012 low).

Daily Technical Report

 

Author: MIG Bank

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