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FXstreet.com (Barcelona) - Euro decline from Monday's high 1.4195 has held at 1.4025 area, Jan 21 low, and the pair bounced up during European session, reaching 1.4080 area, with next resistance area at 1.4095/1.4110 area.
On the upside, above the mentioned intra-day resistance area at 1.4095/10, next resistance levels lie at 1.4125/30 and 1.4180 (Jan 22/26 high). On the downside, support levels remain at 1.4020/25 (Session low/Jan 21 low), and below here, 1.4000 and 1.3920 (Jul 2 low).
For next sessions, Peter Rosenstreich, technical analyst at ACM - Advanced Currency Markets, expects the pair to remain in range between 1.4020 and 1.4225: "Expect a choppy range trading to continue today between 1.4020 to 1.4225; there are rumoured to be bids at 1.4000 with stops below. Above 1.4225 the next resistance comes in at the 200 day moving average of 1.4313."
Forex: EUR/USD bounces back from 1.4025, and reaches 1.4080 area
Posted 1/27/2010 6:34 AM ET by from FXstreet.com
On the upside, above the mentioned intra-day resistance area at 1.4095/10, next resistance levels lie at 1.4125/30 and 1.4180 (Jan 22/26 high). On the downside, support levels remain at 1.4020/25 (Session low/Jan 21 low), and below here, 1.4000 and 1.3920 (Jul 2 low).
For next sessions, Peter Rosenstreich, technical analyst at ACM - Advanced Currency Markets, expects the pair to remain in range between 1.4020 and 1.4225: "Expect a choppy range trading to continue today between 1.4020 to 1.4225; there are rumoured to be bids at 1.4000 with stops below. Above 1.4225 the next resistance comes in at the 200 day moving average of 1.4313."
