EURUSD
The Euro managed to climb above 1.3500 on Friday being supported by the medium term key barrier at 1.3460. Support is now seen at 1.3500 backed by 1.3460 and 1.3420. Resistance emerges at 1.3545 followed by 1.3585, 1.3610 and 1.3680. Hourly momentum is neutral and the daily sentiment is slightly bearish but we can notice a moderate recovery and a potential daily close near the 1.36 mark may signal a full reversal. The uptrend aiming towards the higher half of 1.36 may resume while 1.3460 holds. On the other hand, if the key support at 1.3460 breaks then we will expect the decline to extend towards the 1.3380 and even 1.3250 levels. Range trading is likely to continue today. Current exchange rate is 1.3514 @ 06:00 GMT
Trading strategies:
Short in the 1.3530 area, stop at 1.3560, objectives at and below 1.3500.
