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EUR/USD Weakening

Swissquote Bank SA
By Swissquote Bank SA

EUR/USD is now lower than 1.20. The pair is now retracing after reaching resistance given at 1.2092 (08/09/2017 high). The road is wide-open for further decline towards support at 1.1812 (25/12/2017 low). Stronger support is given a distance at 1.1718 (12/12/2017 low).

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
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