EUR/USD

EUR/USD managed to rebound again off the lower boundary of the last few months trading range. The official explanations of the move were the high HICP in Eurozone and some articles about the future FED policy. The forex market probably was dissapointed by the G8 meeting where the dollar weakness was not discussed as expected. In the next few days the path with least resistance is up. The resistance levels are 1.5550/65 and 1.5655. Support is @ 1.5480 and 1.5435.

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This entry was posted on June 17th, 2008 and is filed under Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.