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Forex: EUR/USD falls to 1.2868/71

FXstreet.com (Barcelona) - The EUR/USD turned abruptly negative Tuesday, having recently fallen off the 1.2890 handle during European trading.

Indeed, the pair has faced strong headwinds as of late and continues to trade in a narrow consolidation today that seems to be relenting in favor of the downside – in these moments the cross is trading at 1.2868/71. The EUR/USD will face calculated support at 1.2824, then 1.2780, and finally 1.2740. On the ascension, a movement above 1.2908 will initiate supportive structures at 1.2948 onto 1.2992, notes the Mataf.net analyst team.

According to the ICN.com Technical Analyst Team, “The EUR/USD moved to the upside yesterday and is trading above key support of the ascending wave as the stochastic offers positive bias. Meanwhile, linear regression indicators are negative and the pair is stable below 1.2970.”

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