EUR/USD - Weekly technical Outlook

21 November 2009 @ 08:18 am EDT

EUR/USD's choppy fall from 1.5047 continued last week and the brief break of 1.4807 is slightly favoring the case that it's resuming. Initial bias is mildly on the downside this week as long as 1.4934 minor resistance holds and further fall could be seen to 1.4626 support next. On the upside, however, above 1.4934 will flip intraday bias back to the upside for a test on 1.5047/61 resistance zone instead.

Copyright 2009 ActionForex, All rights reserved.

E-Newsletters

We value your privacy. Your email address will not be shared.