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2 Jan 2014
EUR/USD slowly grinding higher
FXstreet.com (Buenos Aires) - US afternoon has turned pretty quiet, with majors trading in tight ranges after London close. The EUR/USD is recovering some ground after bottoming at 1.3628 early US session, a few pips above of the 4 week low posted past Dec 20th at 1.3624. Intraday negative, the pair trades almost 100 pips below Asian opening, albeit slowly grinding higher.
Key supports to keep an eye on
According to Chris Tevere from FOREX.com, the pair “broke below its corresponding channel support around 1.3715. While the 1.3620/25 level appears to be immediate support – Convergence of 50-day SMA, November high & December 20th low; other notable levels of technical significance include: 1.3595 – 50% retracement, 1.3535/65 – Daily Ichimoku Cloud & 100-day sma,1.3525 – 61.8% retracement,1.3500 – Psychological & option/barrier related.”
Key supports to keep an eye on
According to Chris Tevere from FOREX.com, the pair “broke below its corresponding channel support around 1.3715. While the 1.3620/25 level appears to be immediate support – Convergence of 50-day SMA, November high & December 20th low; other notable levels of technical significance include: 1.3595 – 50% retracement, 1.3535/65 – Daily Ichimoku Cloud & 100-day sma,1.3525 – 61.8% retracement,1.3500 – Psychological & option/barrier related.”