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Cable is back below 1.43, after upside rejection yesterday; downside in focus

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro remains under pressure and returns close to yesterday’s low at 1.1070. Rising daily 20SMA, which contained yesterday’s weakness, still acts as support at 1.1176. Bounce off 1.1170 was capped by the base of hourly Ichimoku cloud, spanned between 1.1136 and 1.1148, which marked initial resistance and was expected to limit upside attempts. Near-term studies remain bearish and favor further weakness, with break below 20SMA, needed to expose more significant 1.1055/41 supports,

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