Technical analysis EUR/USD 25 February 2013


Technical analysisThe speculation over the last comment on the possible correction confirmed. The price remained in the range between 1.3270 and 1.3160/50, touched the support level at 1.3140/45 during the mixed movements and returned to around 1.3230/40. Some indicators support the possibility of growth, but SS, that remains oversold, considers this rise as correction. I.e. there are no fundamental changes in the situation and the most likely short-term scenario considers consolidation in a sideways range between 1.3270 and 1.3140. There remain expectations that the pair could drop towards the 1.2990/80. If the price breaks above resistance at 1.3430/50 and fixes at this level, this may signal that the “bearish” trend gave way to renewed “bullish” trend.

EURUSD - 25.02.13


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