EURUSD breaks below 1.2706 previous low support

By IBTimes Staff Reporter | February 16 2009 8:59 PM

EURUSD breaks below 1.2706 previous low support, suggesting that the medium term downtrend from 1.4719 (Dec 18, 2008 high) has resumed. Deeper decline is expected to 1.2500 zone in a couple of days. Initial resistance is now at 1.2942, only rise above this level will indicate that the short term downtrend from 1.3093 has completed.

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