Swissquote Daily Technical Report: EUR/USD – Making 2 years lows

In Swissquote’s Wednesday short term technical trading report, the research team outlines the major technical levels of popular currency instruments with forecasts, below is the outline for EUR/USD. To view and download the entire report, click here (PDF).

EUR/USD: Making 2 years lows

• EUR/USD has broken the strong support area between 1.2755 and 1.2662, confirming persistent strong selling pressures. Hourly resistances can now be found at 1.2664 (29/09/2014 low) and 1.2715 (29/09/2014 high).

• In the longer term, EUR/USD is in a succession of lower highs and lower lows since May 2014. The break of the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low) opens the way for a decline towards the strong support at 1.2043 (24/07/2012 low). Intermediate supports are given by 1.2500 (psychological support) and 1.2466 (28/08/2012 low).

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