EURUSD
The dollar pressure almost brought the Euro into the lower 1.27 area on yesterday but it managed to reverse at 1.2775 and recovered, getting back where it started the day as the daily close was slightly higher. Intraday resistance is formed by 1.2830 followed by 1.2845, 1.2875 and 1.2900. Higher, medium term resistance is eyed at 1.2940. Support starts at 1.2800, backed by 1.2775, 1.2750 and 1.2700. Slightly bearish momentum is formed on the daily studies while the daily still has a bullish flavor but lost most of its strength. Current exchange rate is 1.2820 @ 07:11 GMT
Trading strategies:
Short in the 1.2830 area, stop/reverse above 1.2865, objectives at and below 1.2770.
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