EURUSD consolidating above key Fibo level
17 August 2014, 13:13
- EURUSD is in consolidation mode above the 200% extension of the June/July advance near 1.3325
- Our broader bias is negative in the euro while under 1.3560
- A close under 1.3300 is needed to confirm that a new leg lower is underway
- A turn window is eyed early next week
- A weekly close back over 1.3560 would turn us positive on the exchange rate
Weekly EUR/USD Strategy: We like selling on strength
| Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
|---|
| EUR/USD |
1.3300 |
1.3325 |
1.3390 |
1.3430 |
1.3560 |
