EUR/USD forex technical analysis round-up: Dec. 23

ForexNewsNow | Published on December 23, 2010 at 3:07 am

NEW YORK (Forex News Now) – The euro was rising against the greenback today, trading at 1.3139 as of around 8:00 A.M., GMT.

The euro is up .31% on the day and has reached a session high of 1.3152 with a low of 1.3096 so far.

This is what the analysts say about the heavily traded currency pair in the near-term: writes that EUR/USD bears declined the price, and that while support level remains active at 1.2992, bearish movement is limited.

“Lately, bulls been trying to rebound back to resistance barrier. For now consolidation is expected in the middle of road between support and resistance levels. Further low jumping is possible for today, stronger actions are expected above resistance, or lower support level,” it adds in intraday analysis.

Forexcycle notes that the currency pair remains in downtrend from 1.3497.

“Initial resistance is at the downtrend line on 4-hour chart, now at 1.3175, as long as the trend line resistance holds, downtrend is expected to continue and next target would be at 1.3000 area,” the realtime forex news site adds.

Finally, FXstreet writes that EUR/USD should trade in a range between 1.2960 and 1.3180.

“Testing  20 SMA in the hourly chart upside down, pair has first static resistance around 1.3130 price zone barely above mentioned MA. Range top remains the 1.3180 price zone, while lose of 1.3080 mentioned Fibo should favor a slide towards 1.2960 price zone,” it elaborates in advice to FX traders.



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