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EUR/USD Resilient, Aims Back To 1.3605

EUR/USD Resilient, Aims Back To 1.3605

EUR/USD Resilient; Aims Back to 1.3605, 1.645 and 1.3711 key • A resilient tone to end last week to maintain our view of further erratic consolidation above support at 1.3460/50, still expressing reluctance to signal a more significant topping. • Although we see a range theme early this week, the threat through mid-Oct is still for bullish risks to resume, to aim through the recent peak at 1.3645 and the 1.3711 cycle high. • This would then leave overshoot risk to the 61.8% retrace of the 2011-12 sell off at 1.3835 and the 1.4000 psychological. • The 8-day RSI, has corrected from OB, whilst leaving support intact, so has scope to go re-energize. WHAT CHANGES THIS? • Below 1.3450 eases bull risk to neutral; below 1.3325 shift the bias negative. Please see latest audio-visual analysis here:


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