BLBG: Euro’s Technical Environment Is ‘Full of Risks,’ Helaba Says
The euro may fall to $1.3403 if it drops below a so-called support level, according to Helaba Landesbank Hessen-Thueringen.
“The technical environment remains full of risks,” Ralf Umlauf, head of floor research in Frankfurt, said today in a research report. “If the euro falls back below the support line of the short-term uptrend, a slide as far as $1.3403 is to be expected. We see supports on the way there at $1.3517, $1.3462 and $1.3424. We localize resistances at $1.3665 and $1.3722.”
The euro slipped 0.3 percent to $1.3596 as of 7:31 a.m. in London.
