EUR/USD: analysts think of $1.3525
EUR/USD made a rapid decline in the first 2 trading days of the year losing about 180 points. After that we saw some consolidation below resistance at $1.3650 and mostly below the 55-day MA.
Analysts at SEB Bank point out that as EUR/USD slipped below yesterday’s low at $1.3595, bears will attack $1.3571 targeting $1.3525.
UBS is also focused at $1.3524. According to the specialists, a break below this support would confirm MACD’s settlement below its zero line, while any upside should find resistance at $1.3695.
OCBC Bank points out that euro garnered marginal support from EZ data releases, but remains in favor of a sell rally strategy ahead of the 55-day MA ($1.3623) and the ECB meeting tomorrow.
Chart. H4 EUR/USD