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Home » Daily Technical Reports » EUR/USD Today Technical Report 13/04/2016

EUR/USD Today Technical Report 13/04/2016

EUR/USD moved above the 1.1440 (R1) barrier on Tuesday, but failed to hold above that barrier and pulled back within the range between that barrier and the support of 1.1335 (S1). Given that EUR/USD has been trading within that range since the 31st of March, I would keep my flat stance. For now, the pair looks able to continue trading lower for a while and perhaps challenge once again the 1.1335 (S1) barrier. This is also supported by our short-term oscillators. The RSI fell below its 50 line and is now pointing down, while the MACD, although positive, has fallen below its trigger line and now appears ready to turn negative. Switching to the daily chart, I see that EUR/USD is still trading between the 1.0800 key zone and the psychological area of 1.1500 (R2). Therefore, I would keep the view that the broader trend remains sideways.

EURO 13

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