20 Jan 2014
Flash: EUR/USD extends afternoon recovery - FXstreet
FXstreet.com (Barcelona) - Valeria Bednarik, Chief Analyst at FXstreet.com comments that the EUR/USD extends its recovery in this European afternoon.
Key Quotes
“Trading at fresh daily highs above 1.3560, and maintaining a short term upward tone according to the hourly chart as price recovered above its 20 SMA that heads now slightly lower in the 1.3530 area, while indicators head also up right above their midlines.”
“In the 4 hours chart, 20 SMA heads lower above current price, offering dynamic resistance around 1.3590, while indicators hold in negative territory.” With the US markets closed on holidays, markets will likely remain quiet, until the release of NZD CPI later on the day. The daily low of 1.3506 should keep the downside contained at least until Asian opening.”
“Support levels: 1.3520 1.3485 1.3440. Resistance levels: 1.3590 1.3620 1.3655.”
Key Quotes
“Trading at fresh daily highs above 1.3560, and maintaining a short term upward tone according to the hourly chart as price recovered above its 20 SMA that heads now slightly lower in the 1.3530 area, while indicators head also up right above their midlines.”
“In the 4 hours chart, 20 SMA heads lower above current price, offering dynamic resistance around 1.3590, while indicators hold in negative territory.” With the US markets closed on holidays, markets will likely remain quiet, until the release of NZD CPI later on the day. The daily low of 1.3506 should keep the downside contained at least until Asian opening.”
“Support levels: 1.3520 1.3485 1.3440. Resistance levels: 1.3590 1.3620 1.3655.”