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10 Dec 2014
EUR/USD to remain stuck between 1.2350-1.2430 levels today – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees the EUR/USD pair likely to remain stuck between 1.2350-1.2430 levels today, anticipating fresh demand if the pair falls towards the lower level of the range.
Key Quotes
“The EUR/USD pair finished higher at 1.2372 levels, after failing to sustain gains above the 1.24 levels. Another attempt to breach the 1.24 levels has been made today as the pair trades at 1.2390 levels, with the daily RSI bearish at 45.42 levels. Moreover, the pair breached the resistance at 1.2358 levels on the closing basis yesterday, thereby bringing-in a fresh buying interest.”
“Meanwhile, on the hourly chart, the pair is struggling near 1.24 levels with the RSI pointing lower from 58.00 levels. Thus, the pair is more likely to test 1.2360-1.2365 levels before making another attempt towards 1.24 levels.”
“The pair also has a rising trend line support on the hourly chart located around 1.2360, while the 10-DMA is seen at 1.2350. Hence, a fresh demand for Euros can be anticipated around 1.2360-1.2350 levels, which would see the pair make another attempt at 1.2430 levels.”
“Overall, the pair is likely to remain stuck in the range of 1.2350 to 1.2430 today.”
Key Quotes
“The EUR/USD pair finished higher at 1.2372 levels, after failing to sustain gains above the 1.24 levels. Another attempt to breach the 1.24 levels has been made today as the pair trades at 1.2390 levels, with the daily RSI bearish at 45.42 levels. Moreover, the pair breached the resistance at 1.2358 levels on the closing basis yesterday, thereby bringing-in a fresh buying interest.”
“Meanwhile, on the hourly chart, the pair is struggling near 1.24 levels with the RSI pointing lower from 58.00 levels. Thus, the pair is more likely to test 1.2360-1.2365 levels before making another attempt towards 1.24 levels.”
“The pair also has a rising trend line support on the hourly chart located around 1.2360, while the 10-DMA is seen at 1.2350. Hence, a fresh demand for Euros can be anticipated around 1.2360-1.2350 levels, which would see the pair make another attempt at 1.2430 levels.”
“Overall, the pair is likely to remain stuck in the range of 1.2350 to 1.2430 today.”