by: iForex.bg
Euro/Dollar failed to break the key resistance 1.3432 yesterday, and corrected downwards, closing at 1.3324, and dropping down to 1.3245 this morning. Despite the returning of the risk appetite to the market we see that the Euro is currently trading within the range 1.3245 - 1.3432. Further rise to next resistance level 1.3545 is possible if the European currency breaks the first psychological level. Immediate support is the downward trend line that is passing at 1.3245. As long as this level gives a good support, we can expect ascending continuation. Strengthening under 1.3245 will signal for decrease of the currency couple. The CCI indicator is in the oversold area on the 4 hour chart, suggesting upward pressure.
Technical resistance levels: 1.3430 1.3545 1.3650
Technical support levels: 1.3245 1.3150 1.3030
