EUR/USD Technical Analysis: A new visit to the 1.1100 region remains on the cards
- The down move in EUR/USD appears to have met some decent contention in the 1.1180 region for the time being.
- Spot has returned to the area below the key multi-month resistance line, today at 1.1260, after failing just ahead of the key 200-week SMA in the 1.1350 region earlier in the month.
- A break below March low at 1.1176 should spark further selling mood with the next potential stop at 1.1135 (early May low) ahead of YTD lows in the 1.1100 neighbourhood.
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.