EUR/USD Weekly Technical Report 15-19/4/2013

The pair faced clear negative pressure around 38.2% at 1.3115, whereas it pushed the pair to the downside affected by the negative momentum shown on Stochastic. Linear Regression Indicators are positive and the pair is stable above 23.6% correction at 1.2970 as we’re counting on it to keep our positive expectations. Therefore, there might be a new attempt to the upside by stabilizing above 1.2970 levels.

The trading range for this week is among the key support at 1.2905 and key resistance at 1.3275.

The general trend over short term basis is to the downside targeting 1.2560 as far as areas of 1.3270 remains intact.