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Contributors Chart Of The Day For June 23rd, 2014 – EUR/USD
  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3585, 1.3502, 1.3476
  • Resistance:1.3632, 1.3689, 1.3747

Euro recovery against the US Dollar has been interrupted at falling trend line resistance near the 1.36 figure. The barrier is now at 1.3632, with a break above that targeting the 1.3676-89 area marked by the June 6 high and the 38.2% Fibonacci retracement. Alternatively, a turn below resistance-turned-support at 1.3585, the May 29 low, clears a path to the 1.3476-1.3502 zone bracketed by the February 3 and June 5 bottoms.

Our long-term fundamental outlook calls for Euro weakness against the greenback but an actionable short trade signal is absent for the time being. We will stand aside, monitoring price action for actionable opportunities.

EUR/USD Technical Analysis – Rebound Stalls Near 1.36

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