FXstreet.com (Córdoba) - The attempt to rally in the second half of last week failed and the euro finished the week near the recent multi-week lows, as commented by Marc Chandler, analyst at BBH. "The technical tone is poor, with momentum indicators pointing down. In the coming days, the 5-day moving average will most likely cross below the 20-day moving average, confirmed the downtrend", Chandler comments.
"A break now of the $1.2775-$1.2800 area signals another 1-2% decline. It requires a move above the $1.3000-50 area to signal a new leg higher, which we had previously thought possible", the analyst adds.
"A break now of the $1.2775-$1.2800 area signals another 1-2% decline. It requires a move above the $1.3000-50 area to signal a new leg higher, which we had previously thought possible", the analyst adds.
