EURUSD
The Euro continued to fall vs the US dollar and reached 1.3385 during today’s Asian session. Support is now set at 1.3385 backed by 1.3340 and 1.3305. Resistance is seen at 1.3435, 1.3475 and 1.3500. Daily sentiment is bearish and the Euro needs to rally quite a bit in order to signal a reversal. Hourly momentum is neutral. If the Euro remains above 1.3400 then it may recover and aim towards 1.35/1.36. A full break of the 1.3400 may accelerate the decline lower, towards 1.32. Current exchange rate is 1.3426 @06:10 GMT
Trading strategies:
Long in the 1.3420 area, stop at 1.3390, objectives at and above 1.3470.
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