FXStreet (Edinburgh) – The research team at BBH sees the bearish stance in EUR/USD reactivated below the 1.1180 level.
Key Quotes
“The euro was rose from the lower end of its range to the upper end by the US jobs data”.
“It stalled at the upper end of its two-week range near $1.1330. This area corresponds to the downtrend line drawn off the August 24 spike high (~$1.1715) and the September 18 high (~$1.1460)”.
“A break of this trendline would likely signal a move toward $1.1400 initially. The $1.1475 area, however, key. A convincing break could spur a move to the August 24 high, if not a bit higher”.
“The RSI has turned higher, and the MACDs are poised to do the same. On the downside, a loss of the $1.1180 neutralizes the technical condition”.
(Market News Provided by FXstreet)