Technical Analysis for Major Currencies
EURO/USD
We still see euro moving towards the up side to hit 1.3100 resistance level. despite euro moved down and reach to 1.290s support level but at the end of the day it rebounded back to close at 1.2950s level, which we think that it will push euro towards the up side.
The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420.
The key resistance will be at 1.3200 and the key support at 1.2900.
Support: 1.2955, 1.2935, 1.2892, 1.2870, 1.2834
Resistance: 1.2980, 1.3000, 1.3032, 1.3058, 1.3100
Recommendation: We expect buying euro above 1.2978 with a target at 1.3030 and stop loss below 1.2945.
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