Forex Technical Analysis on Majors

EUR/USD Current level-1.4406 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4037 and 1.3372.    The pair broke through 1.4338, reaching intraday high at 1.4444. Current slide from 1.4444 is corrective n nature and precedes next leg upwards, to 1.4670. Important support comes at 1.4340.

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