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EUR/USD stops tripped as 1.4070 gives way

By   || June 5, 2009 at 13:23 GMT
|| 0 comments || Add comment

Support at 1.4050 is being tested as EUR/USD liquidation continues. Stops below the 1.4070 levels have been trigger on this latest slide.

1.4015 is next support should the pullback extend.

One interesting note in EUR/USD: we have not closed below the 10-day moving average since late april. That average is at 1.4077 at the moment. Another warning sign that a medium-term top may be in place.

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