EUR/USD Weekly Technical Report 22-26/4/2013
ecPulse
2013-04-22 07:17AM UTC
The pair fluctuated sharply last week pushing the pair to trade again below resistance level 1.3115. But we find the pair stable above 23.6% correction at 1.2970, as Linear Regression Indicators tends to be positive forcing us to think that we are in front a new attempt to the upside this week. Positivity requires not breaking 1.2970 levels, whereas stability below it might fail the positivity.
The trading range for this week is among the key support at 1.3035 and key resistance at 1.3230.
The general trend over short term basis is to the downside targeting 1.2560 as far as areas of 1.3270 remains intact.
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