Euro remains under pressure
Tatiana Norkina, FBS analyst
EUR/USD continues moving downwards. After a clear rebound from the horizontal Kijun-sen line on Friday, the pair as well consolidated below the Tenkan line. The lines themselves, in turn, have formed another dead cross, confirming the bearish sentiment of market participants. It is obvious to expect the minimums update in the near future, but sharp fall in unlikely to follow since the current levels contain a great number of support levels. In addition, the Chinkou Span line is in the zone of oversoldness on the higher timeframes.
Technical levels: support – 1.0560; resistance – 1.0600.
Trade recommendations: out of market.