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Yesterday’s low is today’s support for EUR/USD – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that yesterday’s low at 1.2443 stands as immediate support for the EUR/USD pair, a break below this can lead the pair to test 1.2400 levels again.

Key Quotes

“With German inflation still to be released, the EUR/USD pair retreated from a daily high of 1.2523, and the 4 hours chart shows price near its 20 SMA that heads higher a couple pips below current price, while indicators turned lower, still holding above their midlines.”

“Yesterday’s low at 1.2443 stands as the immediate support, with a break below putting the pair under short term pressure, eyeing a test of the 1.2390/1.2400 price zone.”

“The 1.2520 area continues to be the key resistance, as it will take some steady recovery above it to see the pair rallying up to 1.2560 price zone.”

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