Euro Versus Dollar and Franc September 1st

FX Strategy Video > Currency Pairs Analysis

EUR/USD fell for a second day on Wednesday as traders started to focus on EU debt issues again. The 1.4350 area is just below, and has produced a reaction every time it has been approached recently. Because of this, we fell that selling at this point is dangerous, unless we get a daily close below it. A buy order doesn't make sense until we get well above the 1.4550 area.

The EUR/CHF pair fell on Wednesday, stopping right at the 1.15 level - an area that has been very resistive recently. The area should hold as support, and if it does - we need to watch the 1.20 level for signs of a break out. The breaking of the 1.14 level would have us selling.

Published on 31st of August 2011
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