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Technical Analysis: EUR/USD

The pair surged back above 1.3600 after it reached the 1.3500 level. However, the risks are on the downside, and we look for...

The pair surged back above 1.3600 after it reached the 1.3500 level. However, the risks are on the downside, and we look for a further decline ahead of 1.3000, with a break and consolidation below 1.3500 to accelerate the downtrend. Meanwhile, should the pair hold above 1.3500, we could see a bullish resumption towards the 200-Day SMA by 1.4030.

Edward Smith, technical analyst of company Admiral Markets.

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