EUR/USD Range Break Pending
The pair is nestled in a congestion area of old support and resistance levels. The range is currently 1.4050-1.4100. Based on average daily movements we can expect at least 90-100+ pips of movement outside of this this range. Free, Live Forex Webinar Next Week!
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EUR/USD Range Break Pending
The pair is nestled in a congestion area of old support and resistance levels. The range is currently 1.4050-1.4100. Based on average daily movements we can expect at least 90-100+ pips of movement outside of this this range.
Initial target for a downside break is 1.4000, beyond 1.3960 and 1.3920.
A push past 1.4100 would put the initial target at 1.4150 and beyond 1.4200 and 1.4225.
The pair has rebounded in early trading after a fall yesterday. The 97.10 – 97.00 is the closest support area. A break of that level would likely pull the rate into the 96.50 area and beyond that 96.20.
The pair is currently pushing higher, and a break above 97.60 would target 97.80 and beyond 98.10 and 98.30 – 98.40.
Analysis by: http://www.forexpros.com – Written by Cory Mitchell
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