EUR/USD - H&S neckline resistance intact ahead of US d

26 Nis 2016

Resistance – 1.1285, 1.1342, 1.1376

Support – 1.1236, 1.1187, 1.1144

• Rejection at 1.13 and a fall back to 1.1275 marks Euro’s failure to sustain above head and shoulder neckline level of 1.1285 ahead of the US durable goods orders release.
  

• This makes it more vulnerable to a better-than-expected US durable goods print.
  

• Support at 1.126 could be put to test on strong data, while a weak data could fuel move towards 1.1320-1.1342.