EUR/USD Heading Under 1.36

0828 GMT [Dow Jones] EUR/USD is pushing into new three-month lows, and poised to break the supportive 200-day exponential moving average at $1.3623. Friday's breakdown below $1.3634 has generated a minimum downside requirement target at $1.3588, and two intra-wave bull failures have been confirmed at $1.3734 and $1.3687. The 260-day supportive moving average provides backup at $1.3553, but the weekly Ichimoku chart suggest the move has room to $1.3429, where the upper lining of the weekly cloud lies until mid-June. EUR/USD is at $1.3629. -By Francis Bray, Dow Jones Chief Technical Analyst For Europe.(francis.bray@dowjones.com) (This article is general financial information, not personalized investment advice, as it does not consider the unique circumstances affecting an individual reader's decision to buy or sell a specific security or currency. Dow Jones does not warrant the accuracy, completeness or timeliness of the information in this article, and any errors will not be made the basis for any claim against Dow Jones. The author does not invest in the instruments or markets cited in this article.)

 
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May 23, 2014 04:28 ET (08:28 GMT)