Analysts at Citigroup claim that the euro bears didn’t manage to trigger stops below $1.4320 and EUR/USD experienced a short-covering rally to the levels around $1.4360.
The specialists think that if the pair breaks down below $1.4320, it will find support in the $1.4310 area where 55-day and 100-day MA converge and a base of the Ichimoku Cloud is found.
Chart. H4 EUR/USD
published by FBS Holdings © 2011