Daily Technical Report

EUR/USD has broken to the downside out of the range defined by the support at 1.1262 and the resistance at 1.1450. Further weakness towards the support at 1.1098 is favoured. Hourly resistances can now be found at 1.1279 (20/02/2015 low) and 1.1389 (see also the declining channel).

In the longer term, the symmetrical triangle favours further weakness towards parity. As a result, any strength is likely to be temporary in nature. Key resistances stand at 1.1679 (21/01/2015 high) and 1.1871 (12/01/2015 high). Key supports can be found at 1.1000 (psychological support) and 1.0765 (03/09/2003 low).

Read the full report: Technical Research