by: iForex.bg
EUR/USD 1.3373 - 5 May EUR/USD Open 1.3416 High 1.3437 Low 1.3218 Close 1.3404
Euro/Dollar failed to break the key support 1.3218 yesterday, and renewed its upward trend, climbing back up to 1.3437. Traders collected their earnings by close to their positions after the weekend, therefore we saw a rise in the Euro despite the returning of the risk appetite to the market. Further rise to 1.3375 is possible. Break at this psychological level may trigger further bullish momentum towards next resistance 1.3460. Immediate support is the downward trend line that is passing at 1.3330. As long as this level gives a good support, we can expect ascending continuation. Strengthening under 1.3330 will signal for decrease of the currency couple. The CCI indicator is in the oversold area on the 4 hour chart, suggesting downward pressure. Technical resistance levels: 1.3440 1.3375 1.3460
Technical support levels: 1.3330 1.3220 1.3120
