FXstreet.com (Barcelona) – After achieving a daily maximum of 0.9780 Tuesday, the couple has since changed its course and settled around its opening price. The main catalyst for pair’s performance this morning was the mixed results in China, causing some panic for investors.
According to Ian F. Park, an analyst at MarketVision TV, “The pair remains around the channel of 0.9770. Stabilization near this level suggests that the uptrend is real and that there is the possibility of further advances. In the interim a dip to the 0.9768 – 0.9720 region seems likely.”
Presently, the pair is trading in the area of 0.9755, advancing slightly at a rate of +0.02% above its opening price. According to the Mataf.net technical analysts, the pair’s rise will be tested by next short-term resistance at 0.9785, followed by 0.9807, and finally 0.9828. In the event of a crossover to negative territory, support is found at 0.9742, 0.9721, then 0.9699.
