This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
EUR/USD back below important resistance
The price continues to drop back for EUR/USD, having fallen below the key resistance zone around $1.185. The next areas to watch are $1.17, then $1.1662, and then $1.155.
A close below $1.1712 is needed to put an end to the rally from the November lows. A recovery above $1.1808 would be a good first step for the bulls, but there is still plenty of resistance that would need to be broken, at $1.1836, $1.1858, and then $1.188.
.jpg)
