EUR/USD News

Forex: EUR/USD: Euro retreats from 1.4840, testing 1.4800

Wed, Oct 28 2009, 09:01 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - Recovery attempt from 1.4770 low on Tuesday has been rejected at 1.4840 area, on early European session, and the Euro turned down, hitting levels below 1.4800.

Below 1.4800, next support levels lie at 1.4770/85 area (Oct 27 low/ inttra-day low), and below here, 1.4755 (Oct 13 low) and 1.4725. On the upside the Euro might find resistance at 1.4845 (Oct 26 low), and above here, 1.4860/65 and 1.4900.

Liviu Flesar, technical analyst at InnerFX, considers the current decline as a regular trend reversal although wans about declines below 1.4770: "Keep an eye on the 1.4770 and 1.4700 support levels because an extended decline into the 1.46 region would hurt the mid-term’s sentiment and the euro could become vulnerable to reaching 1.45."

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Forex: EUR/USD will remain offered below 1.4925/50, targeting 1.4588/36 - Commerzbank

Wed, Oct 28 2009, 08:10 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - Euro retreat from 1.5060 high has extended on Tuesday to 1.4770 low and the Euro has bounced higher, reaching levels above 1.4800, although, according to Karen Jones, the pair remains on the downside, targeting 1.4588/36 area.

For today Jones foresees Euro recoveries to cap at 1.4925/50: "EUR/USD will remain offered intraday below 1.4925/50 - target 1.4588/36 (55 day ma and uptrend) we look for this to hold and provoke recovery."