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Euro hits 2-year low as ECB meeting in focus; Aussie dollar extends fall

the euro changed its trend from down to sideways on 4-hour chart. Current support lies at 1.2241$, second support is 1.2133$ and the main support lies at 1.2042$. The recent price peak failed to reach the middle boundary of the Bollinger Bands which confirms the price weakness. The stochastic indicator is still trading in its oversold area which is also a sign of weakness .The MACD indicator broke down its zero level which signals more losses .On the upside, current resistance stands at the area between 1.2344$ & 1.2390$, second resistance is in the area between 1.2475$ &1.2631$ and the main resistance stands at the area between 1.2770$& 1.2930$.

 

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Amana Capital Group is a Financial Services Group specialized in providing brokerage services in international financial markets namely currencies, commodities, and stock indices. The Group operates several entities regulated and authorized by reputable regulatory bodies.

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