EUR/USD - Challenging The 1.0500 Threshold
EUR/USD continues its steep decline and is now challenging the 1.0500 psychological support. Hourly resistances can be found at 1.0684 (12/03/2015 high) and 1.0907 (09/03/2015 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. A key resistances stands at 1.1534 (03/02/2015 high). Key supports can be found at 1.0504 (21/03/2003 low) and 1.0000 (psychological support).