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Testing the strongest area of support

14 July 2015, EUR/USD

The pair is testing the strongest area of support

4 hours’ chart of  EURUSD. The level (2/8) was not able to hold the pair from falling. Following to breakthrough of this level, a way was opened to the point (0/8). Here we shall note that it is the strongest level of support which will be hard to force. Additional support is given to price by the oversoldness area located under this level. So, only after breakthrough and consolidation of the price below (0/8) we can expect continuation of a descending movement.

Nikolay Krishtopov
FreshForex Analyst
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