September 28, 2009
Current level-1.4622
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523.
The recent break below 1.4611 confirmed, that a larger corrective phase is on the run from 1.4842, targeting 1.4444 support. Intraday bias is slightly positive towards 1.4653, where a reversal should be expected, for next leg downwards, to 1.4493.
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