21 Jan 2015
EUR/USD likely to re-test 1.1610-1.1620 today – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, notes that EUR/USD might re-test 1.1610-1.1620 levels today, with the pair moving higher after sustaining above 1.1552 levels.
Key Quotes
“The EUR/USD ended lower on Tuesday at 1.1551, after having faced rejection around 1.1614 levels. The daily closing made sure the pair remained stuck largely in a range of 1.1540 to 1.1620 levels.“
“On the hourly chart, the pair has inched higher after having managed to sustain above the 23.6% retracement level at 1.1552. The hourly RSI has breached 50.00 levels on the upside, indicating further upside in the pair. Thus, the pair is likely to re-test 1.1610-1.1620 levels today. Moreover, a break above 1.1609 (38.25 retracement level), shall open doors for 1.1640 levels.”
“On the other hand, EUR bears would come-in strong if the pair dips below 1.1540 levels, thereby opening doors for a re-test of 1.1490 levels.”
Key Quotes
“The EUR/USD ended lower on Tuesday at 1.1551, after having faced rejection around 1.1614 levels. The daily closing made sure the pair remained stuck largely in a range of 1.1540 to 1.1620 levels.“
“On the hourly chart, the pair has inched higher after having managed to sustain above the 23.6% retracement level at 1.1552. The hourly RSI has breached 50.00 levels on the upside, indicating further upside in the pair. Thus, the pair is likely to re-test 1.1610-1.1620 levels today. Moreover, a break above 1.1609 (38.25 retracement level), shall open doors for 1.1640 levels.”
“On the other hand, EUR bears would come-in strong if the pair dips below 1.1540 levels, thereby opening doors for a re-test of 1.1490 levels.”