EURUSD daily report, by Liviu Flesar
The US Dollar continued to weaken against the Euro during today’s Asian session, resuming the climb into the 1.28 area it started on Friday. Support was found at 1.2780 and while it holds, we will look forward for new tests of 1.2830 which is the first important resistance seen on the intraday charts. A potential break of 1.2830 will, most likely, bring the 1.29 area on-focus yet again and the Euro will face strong resistance levels there, formed by the monthly highs, and why not, yearly. But until then, the pair has to deal with 2 resistance levels which are seen at 1.2830 and 1.2875. Support backs 1.2780 at 1.2750. Sentiment is bullish on both hourly and daily studies. Current exchange rate is 1.2808.
Trading strategies:
Long in the 1.2790 area, stop below 1.2760, objectives at and above 1.2830. In case of a break of 1.2830, objectives may extend to 1.2860.
