EUR/USD: Losses could extend to the 1.05/1.06 range on failure to hold 1.0670/80
EUR/USD has drifted back to the 1.07 area. The pair could fall to the 1.05/06 region.
BEARISH TECHNICAL ANALYSIS
“Intraday weakness below the 1.0730/35 support zone (now minor resistance intraday) risks seeing EUR losses extend somewhat more as spot’s recent consolidation range has broken down.”
“EUR/USD support is 1.0670/80 (55-Day Moving Average which held losses earlier this week at 1.0682). EUR losses could extend to the 1.05/1.06 range below there.”
EUR/USD has drifted back to the 1.07 area. The pair could fall to the 1.05/06 region.
BEARISH TECHNICAL ANALYSIS
“Intraday weakness below the 1.0730/35 support zone (now minor resistance intraday) risks seeing EUR losses extend somewhat more as spot’s recent consolidation range has broken down.”
“EUR/USD support is 1.0670/80 (55-Day Moving Average which held losses earlier this week at 1.0682). EUR losses could extend to the 1.05/1.06 range below there.”