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EURUSD Technical Analysis – 11th January 2013

EURUSD Technical Analysis Update – 11th January

  • The EURUSD currency pair is once again threatening recent range resistance highs around 1.3300, after the ECB (European Central Bank) held its key rate at the record low 0.75% level.  Yesterday’s move brought significant volatility and the daily range was over 240 pips – 3 times the 60 day average.
  • The 1.3150 area has proved to be a price pivot zone and is eyed as potential support on any initial move lower.  This technical area last acted as resistance earlier this week.
  • To the upside – a cluster of daily highs from March/April is located around 1.3380 and and could potentially provide resistance on any sustained break above range resistance.
  • The 1.3485 29/2/12 prominent swing high point is just under a 50% corrective retrace and the 1.3500 psychological round number.  This a key confluence area and technical point of interest on any extended upside.
  • In related markets we note that cable has found support at the 1.6000 /ascending trend line area and is now consolidating around 1.6150. This has the EURGBP cross likewise threatening range resistance highs around 0.8240 on a broad based EUR strength scenario. 
  • The USDJPY is trading around 89.00 as the Japanese yen has broadly under performed, reaching  the weakest level seen against the US dollar since June 2010.

eurusd EURUSD Technical Analysis   11th January  2013

EURUSD Technical Analysis Update -D1 Chart – 11th January

EURUSD 11TH JANUARY EURUSD Technical Analysis   11th January  2013

eurusd technical analysis 11th jan

 Euro/dollar analysis, EURUSD forecast, EURUSD Technical analysis report 11/1/2013

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