Tech on EUR/USD

Market news

17 March 2011

Tech on EUR/USD

Resistance 3:$1.4080

Resistance 2:$1.4030

Resistance 1:$1.4000

Current price: $1.3932

Support 1: $1.3830

Support 2: $1.3760

Support 3: $1.3520

Comments: Rate recovered after an earlier decline. Strong support is near channel line from Mar 10 at $1.3830. Break under will target rate $1.3760 (23.6% Fibo of $1.2870 - $1.4035 move). Further losses may widen to $1.3520 (Feb 22 lows). Strong resistance comes at Mar 14-15 highs on $1.4000. Above there is a room for a rise up to $1.4030 (Mar 07 high).

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