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Market Analytics
BofA: euro may renew 2-month minimum
Friday, February 17, 2012 - 08:15
Analysts at Bank of America claim that the single currency may fall to more than 2-year minimum versus the greenback.
The specialists note that if euro doesn’t manage to hold at the current levels and resume decline closing the day below $1.3026, this would mean another wave of the downtrend within which EUR/USD has been trading since May 2011. In such case the pair will move down to $1.2644/$1.2510.
Euro’s moving average convergence/divergence, or MACD, was at 0.0036, below the signal line of 0.0045. A reading below the signal line indicates the euro may decline.
Chart. Daily EUR/USD
