EURUSD daily report, by Liviu Flesar
The Euro moved higher Vs the US Dollar on yesterday as the pair tested offers above the 1.27 mark. Support is now formed by 1.2700 backed by 1.2680 and 1.2655. While the higher levels hold, we expect a test of the first minor resistance which is formed at 1.2735. Resistance follows 1.2735 at 1.2755 and 1.2830, higher. The resistance at 1.2750 is also important by being the 50 fib retracement of 1.2875-1.2630, move seen on the daily charts. Momentum is bullish on both hourly and daily charts. Current exchange rate is 1.2710
Trading strategies:
Long in the 1.2690 area, stop below 1.2660, objectives at and above 1.2740. A potential break of 1.2755 may extend the objectives towards 1.2780/1.28
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