Continuum_Economics

EUR/USD: Scope remains for a break to 1.2200

FX:EURUSD   Euro / U.S. Dollar
Little change, whilst prices extend consolidation around 1.2150. The daily Tension Indicator continues to track higher, highlighting a break, but overbought daily stochastics and negative weekly charts are expected to limit any tests/break of 1.2200 in fresh selling interest. Meanwhile, support remains at 1.2100 and extends to the 1.2082 low of 12 February. A later close beneath here will add weight to sentiment and open up 1.2050. Any deeper reactions, however, should stabilise above 1.1975-1.2000.
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