The EURUSD had a bearish momentum yesterday after failed to make a clear break above 1.3970, bottomed at 1.3825 and closed at 1.3845. This fact keeps the bearish bias since the fall from 1.4158 intact and the bias is bearish in nearest term testing 1.3700. I hope we will start to see consistent momentum and clearer direction from now. Break below 1.3700 could trigger further bearish pressure testing 1.3600 – 1.3500 region. Immediate resistance at 1.3878 (current high). Break above that area could trigger further bullish pressure testing 1.3980 – 1.4000 area and keep us in unclear direction and inconsistent momentum condition.
*Info: http://www.fxmalay.com
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