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Rebound continues

Rebound continues | 25 November 2013

25 November 2013, EUR/USD

EUR/USD's recovery has taken it up to a tough line of resistance at 1.3550 where it has stopped to consolidate. The short term trend is in doubt and the pair could go in either direction. There is the possibility of a pull-back from the current resistance level to 1.3505. This could be followed by a resumption of the up-trend, but a break above 1.3560 would be required to add bullish confirmation that the resistance at 1.3550 had been successfully hurdled, however, its not far higher before more resistance is reached at 1.3630. On the other hand, a move down to the discretionary trend-line at 1.3450 could also be possible if 1.3500 is breached.

Rebound continues

Mark Satcher
Analyst of «FreshForex» company
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