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EUR/USD rejected from 1.1450, falls back to 1.1400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD was rejected once again from the 1.1445/50 resistance area and slid back toward 1.1400, as the pair repeats recent days’ moves in the absence of fundamental drivers.

    EUR/USD reached a daily peak of 1.1447, stalling a few pips shy from its 206 high of 1.1453 scored last week. The pair has retreated to the 1.1400 level that acted as intraday support and at time of writing, it was trading at 1.1415, still up 0.13% on the day.

    EUR/USD technical levels

    In terms of technical levels, next resistances are seen at 1.1453 (2016 high, Apr 7), 1.1494 (Oct 15 high) and 1.1560 (Aug 26 high). On the flip side, immediate supports could be found at 1.1326 (Apr 6 low), 1.1309 (Mar 31 low) and 1.1293 (20-day SMA).
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