Daily Analysis for EURUSD, 06.11.2012

The currency pair EURUSD did not make significant movement yesterday, but as a whole it still manages to hold the downward intraday signals and moves below the 200-day EMA to test 1.2750 key support. The picture remains bearish in nearest term. First resistance is seen at 1.2850. A clear break above that level could lead the price to neutral zone testing the levels 1.2885-1.2925. On the opposite direction, a clear break and daily close below 1.2750 would give us further confirmation of a major bearish reversal scenario.




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