EUR/USD - 1.3660
Sell at 1.3730, Target: 1.3630, Stop: 1.3765
As the single currency has remained under pressure after yesterday's post-FOMC selloff from 1.3812, suggesting a temporary top has possibly been formed there and consolidation with downside bias remains for correction of early upmove towards support at 1.3620, however, break there is needed to retain bearishness and bring further subsequent weakness to 1.3590-00.
In view of this, we are looking to turn short on recovery as 1.3720-30 should limit upside. Only above the Ichimoku cloud (now at 1.3753-61) would defer and signal the fall form 1.3812 has ended instead and risk a stronger rebound to 1.3785-90 but said resistance at 1.3813 should remain intact.
Sell at 1.3730, Target: 1.3630, Stop: 1.3765
As the single currency has remained under pressure after yesterday's post-FOMC selloff from 1.3812, suggesting a temporary top has possibly been formed there and consolidation with downside bias remains for correction of early upmove towards support at 1.3620, however, break there is needed to retain bearishness and bring further subsequent weakness to 1.3590-00.
In view of this, we are looking to turn short on recovery as 1.3720-30 should limit upside. Only above the Ichimoku cloud (now at 1.3753-61) would defer and signal the fall form 1.3812 has ended instead and risk a stronger rebound to 1.3785-90 but said resistance at 1.3813 should remain intact.
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