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SEB: EUR/USD eyeing the 1.2605 key support - eFXnews

FXStreet (Łódź) - The eFXnews team remark that SEB expects the break below the EUR/USD key support at 1.2605 to signal an end to the recent upward correction.

Key quotes


"The fallout from what seems to be a bear flag has put the 1.2605 key support up for grabs."

"A break will confirm an end to the three week long correction and call for a new trend low to be traced out, probably in the 1.22/23-area where we meet the estimated 2010 support line (below 1.2501 will however fulfill the minimum target for a 1.2605 break)."

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