From the FXWW Chatroom – Busy day yesterday with eur/usd extending the recent loss and we have now moved more than 5% in three weeks. Yellen confirmed that a December hike is very much in the pipeline and we had another test of the 1.0850 area that has held a few times earlier this year.
I still struggle to see how you can justify a long position and will keep playing the short overall even though we now have gone a long way in short time.
Ahead of Friday numbers we will most likely see a range play with buying interest around 1.0800 (July low 1.0809) and sellers lined up above 1.0900.
Support 1.0840, 1.0810, 1.0785 – resistance 1.0875, 1.0900 and 1.0935
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