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EURUSD at the back foot; key supports at 1.1325/00 under increased pressure

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD Near-term focus turned lower and eyes strong support zone between 1.1325 (n/t congestion floor) and 1.1300 (psychological support / 4-hr Ichimoku cloud base), which is reinforced by daily 20SMA (1.1309). Another long-legged daily candle was left yesterday, after repeated upside rejection, signaling further directionless mode, but overall bulls have been dented. Daily 10 SMA and Tenkan-sen were taken out and now offer initial resistances at 1.1382/94, as near-term technicals turned into

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