Will the old support level hold again?

Posted Wednesday, April 20, 2016 by
Skerdian Meta • 1 min read

Yesterday EUR/USD broke above the 1.1320 – 40 which has been a support level in the past two weeks. It reached 1.1380s but has turned south after failing twice to break it. Right now the price is in the 1.1320 – 30 region. It is taking its time and looks like there is no rush to break below it. London is closing in 10 minutes so we expect the volatility to decline further. We took a small long down here hoping that the price makes a 20- 30 pips bounce. 

The price is at the resistance level 

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