by: iForex.bg
Euro/Dollar was moving neutrally yesterday, climbing insignificantly from the bottom 1.3248 to the top 1.3370, closing the day at 1.3332. Despite the returning of the risk appetite to the market we see that the Euro is currently trading within a narrow range. Rise to resistance level 1.3430 is possible if the European currency breaks yesterday's top. 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
