22 Jan 2014
Flash: EUR/USD pressuring weekly highs - FXStreet
FXstreet.com (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that the EUR/USD is up to a fresh weekly high of 1.3582 this Wednesday, presenting a short term positive tone since early European opening.
Key Quotes
“With little behind the advance, except maybe dollar general weakness amid strong Pound, the hourly chart shows indicators heading higher above their midlines and price above a slightly bullish 20 SMA, albeit lacking real momentum.”
“The 100 DMA stands around 1.3575, offering strong dynamic resistance while the 4 hours chart shows price above a still bearish 20 SMA and indicators in positive territory, also lacking clear strength. The 1.3610/20 area is a strong static resistance area, and unless a clear advance above it, the upside will remain limited.“
“Support levels: 1.3540 1.3505 1.3485. Resistance levels: 1.3575 1.3620 1.3660.”
Key Quotes
“With little behind the advance, except maybe dollar general weakness amid strong Pound, the hourly chart shows indicators heading higher above their midlines and price above a slightly bullish 20 SMA, albeit lacking real momentum.”
“The 100 DMA stands around 1.3575, offering strong dynamic resistance while the 4 hours chart shows price above a still bearish 20 SMA and indicators in positive territory, also lacking clear strength. The 1.3610/20 area is a strong static resistance area, and unless a clear advance above it, the upside will remain limited.“
“Support levels: 1.3540 1.3505 1.3485. Resistance levels: 1.3575 1.3620 1.3660.”