by Thu, 06 May 2010 01:31:00 +0200
EUR/USD Still under pressure
FXstreet.com (Buenos Aires) – EUR/USD Current price: 1.2813. Euro continued falling, even reaching levels under 1.2800 with Sydney opening, in a bottomless rally; Moody’s rating agency has put now Portugal on review for downgrade, adding more pressure to an already doomed currency.
“Technically, both 1 and 4 hours charts remain in extreme oversold conditions thus with no signs of reversal or correction: pair is still bearish, with 20 SMA supporting the bias in both times frames,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.2790 1.2760 1.2720. Resistance levels: 1.2840 1.2885 1.2930.
| Technical Analysis (2010-05-05 23:28 GMT) | |
|---|---|
EUR/USD 1.2817/1.2822 - O: 1.2815 H: 1.282 L: 1.281 C: 1.2817 | |
| Trend | R3: 1.2887 |
 | R2: 1.2855 |
| R1: 1.2823 | |
| S1: 1.2748 | |
| S2: 1.2780 | |
| S3: 1.2812 | |
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