EURUSD daily report, by Liviu Flesar
The Euro climbed into the 1.28 area on yesterday, setting the daily highs at 1.2819 and retraced back into the 1.2770 zone after, where it seems to be well supported so far. Interim resistance is now formed by 1.2785, the same resistance it broke on yesterday. Major resistance follows 1.2785 at 1.2830. We are expecting a test of 1.2830 soon and if it breaks, 1.2875 and 1.2930 may become soft targets. Support backs 1.2770 at 1.2740 and 1.2700. While the lower area of 1.27 and the mid 1.26 remain intact, daily sentiment shall remain bullish therefore favor the upward moves. Current exchange rate is 1.2778 @06:59 GMT
Trading strategies:
Long in the 1.2755 area, stop below 1.2730, objectives at and above 1.2815.
