16:35, 03 December

Market Recap: 26 - 30 November

On Tuesday last week we covered the EURUSD and the key level at the time at the time was the 1.13 level. After rallying strongly off this level earlier last week, it has since reversed and found solid support again, reinforcing how significant this level is presently. A few weeks ago the EURUSD did well to rally higher from its lowest levels in 16 months back up towards 1.15 before easing in the last couple of weeks. Even though it fell through the 1.13 level a few weeks ago, it was quickly pushed higher through strong buying which will provide some confidence that the 1.13 level will provide some support should the EURUSD continue to decline. Likewise the 1.15 level has become key of late providing stiff resistance and looming above ready to push prices lower.