Forexzilla.org

The forex market players hunted for stops below 1.5340 and obviously triggered them. Buying by reserve managers Wednesday and Thursday was able to stop the slide in EUR/USD and the pair bounced back. The bounce was helped by Mr. Trichet who is still concerned about the inflation. Key resistance levels are 1.5505/10 and 1.5590/600. If they are overtaken the euro could rally towards 1.5700 and even 1.6000. Support is @ 1.5280 and 1.5145. Probably the forex market will form summer range between 1.53 and 1.60.