EUR/USD: Making Fresh New Lows
Making fresh new new lows. EUR/USD has broken the support at 1.1098, confirming an underlying bearish trend. Hourly resistances can now be found at 1.1033 (06/03/2015 high) and 1.1245 (27/02/2015 high).
In the longer term, the symmetrical triangle favours further weakness towards parity. As a result, any strength is likely to be temporary in nature. Key resistances stand at 1.1534 (03/02/2015 high) and 1.1679 (21/01/2015 high). Key supports can be found at 1.1000 (psychological support) and 1.0765 (03/09/2003 low).