EUR/USD • EUR/USD continued declining and fell below the 1.3810 barrier and the lower boundary of the downward sloping channel. The rate met support at the 1.3770 (S1) level near the 200-period moving average. A clear break below that support zone, may trigger extensions towards the next hurdle at 1.3715 (S2). Nonetheless, the RSI found support at its 30 bar and moved higher, thus I would expect the upward corrective wave to continue, maybe to challenge the 1.3810 (R1) resistance. • Support: 1.3770 (S1), 1.3715 (S2), 1.3650 (S3). • Resistance: 1.3810 (R1), 1.3850 (R2), 1.3893 (R3).
Posted on: Fri, 21 Mar 2014 09:32:12 +0000