The EURUSD had a significant bearish momentum yesterday, broke/closed below 1.3420 and hit 1.3319. The bias is bearish in nearest term testing 1.3250 – 1.3145 area. Immediate resistance is seen around 1.3420 (former support). A clear break back above that area could lead price to neutral zone in nearest term testing 1.3500/30 area but any upside pullback now is normal and only a movement above 1.3590 – 1.3613 could be a threat to the current strong bearish intraday outlook.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.