EUR/USD: Wednesday's Outlook
FinFX | Sep 18, 2013 06:42AM ET
The Euro continues to trade sideways, awaiting Fed’s decision and holding within 1.3324/84 consolidative range. The downside is protected by hourly Ichimoku cloud and ascending 55DMA, with positively aligned near-term studies, keeping near-term bulls in play. Final push through 1.3384 peak to open 1.3400 lower platform and key 1.3450 hurdle. Alternatively, violation of the range floor, also previous high and 50% retracement of 1.3252/1.3384, would be seen as initial signal of corrective phase and expose 1.3300, Fibonacci 61.8% and strong 1.3240 higher platform and 50% of larger 1.3103/1.3384 ascend.
- Res: 1.3368; 1.3384; 1.3400; 1.3450
- Sup: 1.3345; 1.3324; 1.3300; 1.3283
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