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EUR/USD outlook – 200-DMA stands exposed below daily low

FX:EURUSD   Euro Fx/U.S. Dollar
Resistance – 1.1196, 1.1236, 1.1267

Support – 1.1165, 1.1129, 1.11

  • Euro’s failure to sustain above daily 5-MA seen earlier today if followed by a break below daily low of 1.1150 (also marking a failure to sustain above daily 100-MA of 1.1165) would open doors for a drop to daily 200-MA level of 1.1103.
  • On the higher side, a break above 1.1196 would expose resistance at 1.1236, which needs to be breached on day end closing basis if bulls desire to have more say in determining the exchange rate.

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