Wednesday, March 6, 2013

Will it close below 1.30?

Regular readers will know that we have been watching the movements in EURUSD over the last few days. We have noted the presence of support at the 200 day Simple Moving Average (SMA) and also at the psychologically significant 1.30 level.

The rate has now broken through the 200 SMA. However, to signal a sustained break it would have to breach the March 1st  intraday low of 1.29659. A close below 1.30 would be ominous.

Watch this space.

No comments:

Post a Comment