EUR/USD 28 March 2011
EUR/USD closed higher due to short covering on Wednesday and above the 20-day moving average crossing as it consolidated some of the decline off July's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signalling that additional weakness is possible near-term. If it renews the rally off July's low, July's high crossing is the next upside target.
EUR/USD closed higher due to short covering on Wednesday and above the 20-day moving average crossing as it consolidated some of the decline off July's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signalling that additional weakness is possible near-term. If it renews the rally off July's low, July's high crossing is the next upside target.
