EURUSD
The Euro fails to give any sign of recovery and extended its decline for another 100 points on yesterday, getting below last month’s lows during today’s Asian session. Support is now seen at 1.3480 backed by 1.3430 and 1.3375. Resistance starts at 1.3525 followed by 1.3565 and 1.3600. Momentum is bearish on both hourly and daily studies. The question is where the decline will end? the pair already gone too far in less than a week, a trend correction being now possible. The Euro sits on a fragile ground and there are no key support levels in the current area. Current exchange rate is 1.3480 @06:15 GMT
Trading strategies:
Short in the 1.3500 area, stop at 1.3530, objectives at and below 1.3450.
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