EURUSD tests first downside target at 1.3477/1.3482

Written April 1, 2010 at 8:03 AM EST by  

fxdd-pic-0141

The 1.3477-82 level is 1st support for the EURUSD. This level is the 61.8% of the 2009 low to high trading range.   The low today extended to 1.3475 before bouncing.  Now the price is looking to break and move toward the next target at the 1.3457 level.   This is the 100 bar MA on the 5 minute chart. 

fxdd-pic-0142

Better and stronger support comes in at 1.3437, the initial low price for 2010 reached on March 2nd 2010. 

fxdd-pic-0143

Upside resistance will now come in at the 1.3493/99 level where the 38.2% of the last move higher and teh 100 bar MA on the 5 minute chart come in (see chart below).

fxdd-pic-0144

No Responses to “EURUSD tests first downside target at 1.3477/1.3482”

Add a comment