EUR/USD at the Sensitive Zone


E/U is approaching a very sensitive zone – the psychological barrier 1.37, the highest price of 2013, the trendline of a multi-year downtrend.

Therefore, we think EUR/USD will go sideways here for a couple of days or weeks.

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Oct 22, 2013
US Dollar still falling fast right now 23 October 2013
by: Fritz

Looking at the weakness of the US Dollar, which is currently at 79.26 shows more upside for the Eur/usd is currently favored. The US Dollar is approaching a support level of 79.00, but will this level hold? If this support level does not hold then US Dollar will continue moving further downward, putting pressure on Eur/usd to move higher. Right now Eur/usd is at 1.3778 have just shot up overnight. If US Dollar support holds on 79.00, expect Eur/usd resistance of 1.3900 to hold as well.
At this stage we will have to see how price reacts at these support levels. With the bad economy in USA would not be surprised to see the US Dollar continue to fall under the 79.00 level.

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