EURUSD
The dollar extends gains against the Euro and breached the key medium term support at 1.3460, setting the daily lows in the 1.3435 area. Interim support is seen at 1.3450 followed by 1.3435 and 1.3420. Lower, support is also noticed at 1.3400. Resistance starts at 1.3470 followed by 1.3500 and 1.3530 higher. The daily momentum is bearish, hourly is neutral. Now that the 1.3460 couldn’t hold, the chances for the Euro to recover and bring the 1.36 area back in-focus are lower. The currency needs a lot of strength to recover 200 points. A daily close above the 1.3530-51.3550 mark is needed to confirm a reversal. On the other hand, the current Euro decline may continue and bring the 1.33 area on our attention since there are no important key supports that the dollar would face on its rally aiming towards fresh lows. Current exchange rate is 1.3465 @ 06:00 GMT
Trading strategies:
Short in the 1.3485 area, stop at 1.3515, objectives at and below 1.3440.
