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Technical Analysis: EUR/USD

Posted by Chris Advincula on Apr 22, 2013 2:53:00 AM

Apirl 22 Monday 7:00 GMT

 

EURO-DOLLAR Technicals: Holds Above 1.3000 Despite Bearish Daily Studies

RES 4: 1.3227/35 50.0% of 1.3711 to $1.2743, 100-week MA
RES 3: 1.3200/02/08 Apr 17 high, Apr 16 high, Daily Bollinger top
RES 2: 1.3150/57 Former 38.2% 1.4940-1.2043, 100-DMA
RES 1: 1.3115/17 38.2% of 1.3711-1.2743, Hourly high

LATEST PRICE: 1.3058

SUP 1: 1.3037/39/40/44 Low Apr 12, Hourly low, High Apr 5, Low Apr 11
SUP 2: 1.3021/22 Low Apr 18, Low Apr 15
SUP 3: 1.3002/10 Low Apr 17, 5-week MA
SUP 4: 1.2965/67/70/74 Low Mar 6, Low Mar 1, 21-DMA, 23.6% of 1.3711-1.2746

COMMENTARY: Euro-dollar holds above 1.3000 despite the bearish daily studies,
10-day momentum in a bearish trend but firmed a touch from sharply down. Weekly studies
still bullish and initial resistance at 1.3115/17, the 38.2% $1.2746-1.3711 and hourly
low. Further resistance from 100-DMA at 1.3157. Eurol bullish while above 5-week MA,
at 1.3010, further support alongside Apr 17 low at 1.3002. Initial support at
1.3037/39/40/44, the Apr 12 low, hourly low, Apr 5 high and Apr 11 low.

Market News International & WorldWideMarkets

 

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