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Forex: EUR/USD bounces at 1.3525 low and regains 1.3600

By FXstreet.com,  February 22, 2011, 05:40:00 AM EDT

FXstreet.com (Barcelona) - The Euro declined sharply on Asian session, weighed by fear, as tensions in Libya grow, and retreat from 1.3715 high on Friday extended to, to 1.3525 low at European opening, where the pair found support to bounce up and return to levels above 1.3600.

On the upside, if the pair holds above 1.3595/00 (intra-day resistance), next resistance levels could be at 1.3685 (day high) and 1.3715 (Feb 18 high). Support levels are 1.3525 (day low) , and below here, 1.3500/05 (intra-day level) and 1.3460 (Feb 15/16 low).

EUR/JPY retreat from 3-month high at 114.20 on early Asian session has extended 200 pips lower, to find support at 112.20 at European opening before bouncing up to test 113.00 area at the moment of writing.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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