Trading Conditions
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Prior -1.9%
The drop here stems from a decline in purchases and refinancing activity in the past week, but comes on the back of big surge to start the new yeartwo weeks back. As such, housing market conditions are still fairly robust and this is a mere moderation of that.
Further Development
Analyzing the current trading chart of EUR/USD, I found that sellers are in control and as I predicted the downside cycle is active with potential for the test of the support levels at 1,2075 and 1,2055.
Key Levels:
Resistance: 1,2170
Support levels: 1,2075 and 1,2055.
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