EURUSD
The pair moved sideways in a narrow range on yesterday, being supported by 1.2585, establishing the daily high at 1.2615.
Support backs 1.2585 at 1.2560 and 1.2525. Resistance emerges at 1.2630, 1.2670 and 1.2720. The daily charts remain bearish and a break above 1.2660 is needed in order to confirm the potential build of a bullish momentum. Looking South, the support at 1.2585 looks fragile and a break would bring the lower area of 1.25 on our attention. We will be looking forward for a potential trend correction followed by a resume of the Euro decline. Current exchange rate is 1.2595 @05:51 GMT
Trading strategies:
Short in the 1.2630 area, stop above 1.2660, objectives at and below 1.2580.
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