FXstreet.com (Barcelona) - EUR/USD spiked in early Tokyo trade
to fresh session highs at 1.2837 on the back of a USD move lower
across the board, last trading at 1.2828, slightly off those
mentioned session highs. The pair has managed to recover above the
1.2800 handle despite all the bad news surrounding the Euro land at
the moment, printing a double low at the 1.2750 price area,
following yesterday's soft German jobs data.
According to Valeria Bednarik, Chief Analyst at
Fxstreet.com:EUR/USD " hourly chart showing indicators losing
momentum and approaching their midlines, after the pair found
sellers in the 1.2840 area immediate resistance," the analyst
notes, adding: "In the 4 hours chart technical readings maintain
the bearish tone, as indicators turn south below their midlines,
and 20 SMA capped the upside around mentioned high. While low
volume will likely keep the pair ranging this Friday, the downside
continues to be favored, with a break below 1.2790 pointing to a
test of 1.2730 price zone," she concludes.
Valeria finds support levels at: 1.2790, 1.2760 and 1.2730, while
resistance levels at: 1.2840, 1.2880 and 1.2910.