16 Jan 2014
EUR/USD finds resistance at 1.3610
FXstreet.com (Córdoba) - The EUR/USD stabilized during the American session after finding support at 1.3580, then bounced slightly to the upside and finished Wednesday hovering around 1.3600. At the beginning of the Asian session dropped to 1.3693 reaching a fresh daily low, but remains quiet.
Technical outlook for the EUR/USD
“Technically, the Euro has currently managed to hold on above the cluster of support that lines up below 1.3575, although the medium term rising trend line is once again under some pressure,” said Jim Langlands, from FX Charts. The 4-hour charts according to Langlands suggest more room to the downside, once below 1.3580 it could head toward a “decent support” at 1.3560/55, 1.3525 and then 1.3500.
During the American session the EUR/USD found resistance at 1.3610. The analyst from FX Charts points out to 1.3625 and 1.3642 as next resistance levels to watch for the day.
Technical outlook for the EUR/USD
“Technically, the Euro has currently managed to hold on above the cluster of support that lines up below 1.3575, although the medium term rising trend line is once again under some pressure,” said Jim Langlands, from FX Charts. The 4-hour charts according to Langlands suggest more room to the downside, once below 1.3580 it could head toward a “decent support” at 1.3560/55, 1.3525 and then 1.3500.
During the American session the EUR/USD found resistance at 1.3610. The analyst from FX Charts points out to 1.3625 and 1.3642 as next resistance levels to watch for the day.