Euro/Usd : Price likely to test April low 1.0725
Euro/Usd dropped to the second Fib support 1.0846 as the Germany's court demands justifications for ECB's mass bond buying program . The pair failed to break the 100 day exponential moving average (1.0975) last week ,although price made a high around 1.01017 area . Technically , breaking the 1.0846 short term support,price likely to test the third Fib level 1.0798 and further to the April low around 1.0725 . We have a busy week ahead with plethora of data , ISM Non-Manufacturing PMI later on followed by ECB President Lagarde Speaks on Thursday and the Non Farm Payrolls on Friday .
Support 1 : 1.0846 , Support 2 : 1.0798
SSI : 65/35 (Buyers/Sellers)
Trend (short term) - Down
Trend (Medium term) - Range
Major Resistance : 1.0975 ( 100 day exponential moving average)
Support 1 : 1.0846 , Support 2 : 1.0798
SSI : 65/35 (Buyers/Sellers)
Trend (short term) - Down
Trend (Medium term) - Range
Major Resistance : 1.0975 ( 100 day exponential moving average)
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