FXstreet.com (Barcelona) - The Euro suffered yesterday a strong reversal on the Fed commentary, according to John Hardy, technical analyst at Saxo Bank: We revisit the EURUSD chart after yesterday's strong reversal lower brought on by the Fed commentary. Note that the break of the old trendline failed to trigger an extension of the sell-off initially, creating a bit of hesitancy. Also, the final 0.764 Fib retracement is still in place at 1.5410. The possibilities for this particular cross, in Hardy's opinion, stand as follows: The pair looks like a sell at new lows below 1.5410 as this could usher in a test of the 1.5285 May low and further declines toward 1.5000 eventually. A move back above the 1.5545 upside swing level, on the other hand, would scotch yesterday's reversal.
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