EURUSD Dipped To 20-Month Low, Fresh Downside Attempts Expected After Correction

Daily Forex Technicals |

Written by Windsor Brokers Ltd |

Dec 05 16 08:44 GMT

The Euro dipped to 1.0504, 20-month low, after gap-lower opening on vote ‘no’ on Italy’s referendum. Sentiment is negative and looks for attempts below psychological 1.0500 support and attack at critical 1.0461 support (2015), loss of which would open way towards parity level, as technical studies are bearish.

Limited upside action is expected, with session high at 1.0626, offering good resistance.

Only sustained break above Friday’s high at 1.0688 and 1.0700 pivot would neutralize immediate downside threats.

Res: 1.0600; 1.0626; 1.0688; 1.0700

Sup: 1.0596; 1.0551; 1.0504; 1.0461

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Windsor Brokers Ltd

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