EUR/USD: Accelerating lower
October 18th, 2010
Pair continues accelerating lower, approaching steadily to past Tuesday low in current Asian session, with aims to extend loses towards fresh monthly lows. Despite momentum seems slightly exhausted to the downside, 20 SMA above current price with a strong bearish slope, supports the continuation, as well as daily chart, strongly bearish; lose of 1.3710, should signal a downside continuation rally towards next strong support around 1.3660, ahead of 1.3620 last support for today. The upside seems limited by 1.3770 strong static resistance area: if reached, selling is favored around that level, with stops above 1.3810.
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