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EURUSD at the back foot ahead of Yellen

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro started day at the back foot, as fresh acceleration of pullback from yesterday’s rally peak at 1.1218, retraced 76.4% of 1.1151/1.1218 rally. Data-driven rally did not manage to sustain gains, being capped at 1.1218 pivot (Fibo 38.2% of 1.1341/1.1143 downleg) and also closed below daily 10SMA (currently marking initial resistance at 1.1213). Near-term studies show bearish alignment and keep in play downside risk of retesting strong 1.1151/42 support zone. On the other side,

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