17 Jun 2014
EUR/USD recovery blocked by 1.3585 resistance
FXStreet (Barcelona) - Independent Analyst Vladimir Mihaylov observes that the EUR has made a test of 1.3510 yesterday before reversing to the upside and breaking of the 1.3550 took the price to 1.3580-85 as expected.
Key quotes
“However, we are still below the important for further recovery 1.3600 resistance.”
“Breaking of the 1.3600 may take the price to 1.3650-60 quickly, but there a strong resistance is placed and moving further to the upside will be very hard.”
“But first we need to break above 1.3600, until that we are bearish.”
Key quotes
“However, we are still below the important for further recovery 1.3600 resistance.”
“Breaking of the 1.3600 may take the price to 1.3650-60 quickly, but there a strong resistance is placed and moving further to the upside will be very hard.”
“But first we need to break above 1.3600, until that we are bearish.”