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EURUSD bounced from 1.2153

Discussion in 'Technical Analysis' started by ForexCycle.com, May 27, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    Being supported by 1.2144 previous low, EURUSD bounced from 1.2153, taking price back to a trading range between1.2144 and 1.2671. Lengthier sideways consolidation in the range is expected in next several days. As long as 1.2671 resistance holds, another fall to 1.1800 is still possible and a breakdown below 1.2144 could signal resumption of downtrend.

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