EUR/USD depreciates to 1.1260

Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 48% 49% -2.08%
Shorts 52% 51% 1.92%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

During Tuesday's trading session, the rate passed through the support level of the monthly PP at 1.1346 to trade near the weekly S1 at the 1.1321 mark for the rest of the trading session. On Wednesday morning, the European Single Currency was located between the monthly PP and the weekly S1 to trade at the 1.1324 mark. 

In regards to the near-term future, most likely, the European Single Currency will be resisted by the monthly PP at 1.1346 to trade downside towards the weekly S2 at the 1.1260 mark.  

However, the rate could appreciate during today's US CPI data release at 13:30 GMT to push the rate to break the monthly PP at 1.1346 to trade at 1.1360 level.

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