EUR/USD – 200-DMA support could beput to test

6 Eki 2016

The falling tops formation inside a larger triangle formation coupled with Euro’s retreat from the NY session high of 1.1233 to 1.1190 and subsequent failure to hold above 50-DMA of 1.1207 in Asia suggests prices are likely to test demand around 200-DMA level of 1.1165.

Caution advised below 200-DMA since both the 50-DMA and 200-DMA are still sloping higher.