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26 Feb 2014
EUR/USD shaken but not stirred
FXStreet (Guatemala) - Well, it’s found a bit of support. EUR/USD has come up for a breath of air after a suffocating collapse took the pair through a series of stop loss areas and broke the 1.37 handle to mark a 2 week low as 1.3662.
The Ukraine situation is taking the headlines and risk aversion coupled with upbeat US data has put overwhelming pressure on the unit. However, the move put the pair into oversold territory and further more Roseengran suggested that the Fed could pause unless the data improves.
EUR/USD Levels
The 20 DMA is 1.3644, the 50 DMA is 1.3651 and the 200 DMA is 1.3427. RSI (14) reads 36.12. Spot is 1.3672. Fibo support comes in at 1.3659, the 38.2% retracement of the 1.3473/1.3773 rally.
The Ukraine situation is taking the headlines and risk aversion coupled with upbeat US data has put overwhelming pressure on the unit. However, the move put the pair into oversold territory and further more Roseengran suggested that the Fed could pause unless the data improves.
EUR/USD Levels
The 20 DMA is 1.3644, the 50 DMA is 1.3651 and the 200 DMA is 1.3427. RSI (14) reads 36.12. Spot is 1.3672. Fibo support comes in at 1.3659, the 38.2% retracement of the 1.3473/1.3773 rally.