EUR/USD Analysis

Wednesday, September 30, 2009

The USD still looks neutral against a basket of currencies as compared to the rest of the G10 countries, even if the EUR/USD still appears to be in correction mode due to a broadly weak Euro - strong support comes in not much lower in the key 1.4450 area, which must be taken out to start any credible downside technical arguments.

A recovery back above 1.4650 is needed in the near term to aid the argument for a rally back to the recent top.


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