Technical Analysis: EUR/USD

The pair is consolidating by 1.3000, so the risks are on the downside, and we could see...

The pair is consolidating by 1.3000, so the risks are on the downside, and we could see a new decline towards the 1.2870 support in a short-term. Breaking below 1.2870 would extend losses towards the 1.2585 support. However, daily studies are close to oversold conditions suggesting that a bullish reversal could take place from 1.2870, which would aim the pair back towards the 50-Day SMA by 1.3575.

Edward Smith, technical analyst of company Admiral Markets.

At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

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