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EUR/USD Bearishness Backs Off Support

EUR/USD (daily chart) as of Tuesday (9/13/2011) has reached and respected key support in the important 1.3500 price region, a round number psychological level that has served well as previous support and resistance in the past. This support bounce occurred just a few pips below the 1.3500 level, and hints at a potential pullback in the dramatic bearishness that has characterized this pair for the month of September thus far. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT
Director of Technical Research and Education