by Tue, 17 May 2011 04:28:00 +0200
Forex Flash: EUR/USD could try 1.40 on more commodity slides – Credit Suisse Tokyo
FXstreet.com (Barcelona) - The Euro still looks heavy” said Koji Fukaya, director of global foreign exchange at Credit Suisse Securities in Tokyo. “If we see a further drop in commodities, the euro could make a try to $1.40", adding that "some investors seem interested in buying the Euro at levels around $1.40” the analyst said. Additionally, the 1.39-1.40 region is regarded as a significant area for the euro, since there has been talks of sizeable stop losses offers around the level, plus a series of support levels are clustered there, including the 100DMA.
| Technical Analysis (2011-05-17 02:00 GMT) | |
|---|---|
EUR/USD 1.4143/1.4145 - O: 1.4209 H: 1.4214 L: 1.4203 C: 1.421 | |
| Trend | R3: 1.4211 |
 | R2: 1.4175 |
| R1: 1.4140 | |
| S1: 1.4062 | |
| S2: 1.4098 | |
| S3: 1.4133 | |
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