FXstreet.com (Barcelona) - After several brief attempts at the 0.9800 mark Wednesday, the pair has once again moved higher and is threatening resistance during European trading. Technically speaking, the pair is continuing to trade above its 50-day MA Wednesday, entrenched in positive territory.
In Switzerland, the ZEW Index - Expectations yielded a figure of -42.5 in July vs. -43.4 in the previous month. According to Slobodan Drvenica however, an analyst at Windsor Brokers Ltd., "Given the weak hourly studies and 4h indicators breaking below the midlines, we see potential for further retracement towards 0.9461/0.9871, with break below 0.9750 exposing 0.9714."
Currently, the cross is operating in the region of 0.9796, advancing steadfastly at a rate of +0.26% above its opening price. Slobodan Drvenica confirms the next short-term resistances at 0.9800, followed by 0.9851 and ultimately 0.9861. On the downside, the supports are located at 0.9750, 0.9714, and finally 0.9700.
In Switzerland, the ZEW Index - Expectations yielded a figure of -42.5 in July vs. -43.4 in the previous month. According to Slobodan Drvenica however, an analyst at Windsor Brokers Ltd., "Given the weak hourly studies and 4h indicators breaking below the midlines, we see potential for further retracement towards 0.9461/0.9871, with break below 0.9750 exposing 0.9714."
Currently, the cross is operating in the region of 0.9796, advancing steadfastly at a rate of +0.26% above its opening price. Slobodan Drvenica confirms the next short-term resistances at 0.9800, followed by 0.9851 and ultimately 0.9861. On the downside, the supports are located at 0.9750, 0.9714, and finally 0.9700.
