EUR/USD Open 1.3421 High 1.3536 Low 1.3385 Close 1.3412
The Euro continued strengthening to some point on Tuesday after becoming clear that the Greek deal delivers. Euro/Dollar climbed on Tuesday to 1.3536, from where it started dropping down to 1.3399, in line with the the Interbank sentiment exposure at around -18%, closing the day at 1.3412. On the 15 minute chart the newly formed upward channel is currently under threat. Break above the nearest resistance and yesterday’s top at 1.3536 may lead to further recovery. Going bellow today’s bottom and first support at 1.3385, however, should confirm continuation of the bearish trend, towards next target 1.3269. Today’s focus is on France PPI, Germany Unemployment, Italy CPI, HICP and PPI at 6:45, 7:55 and 9 GMT respectively. Quotes are moving bellow the 50 and 20 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is positive and declining, MACD is negative and calm, while CCI is negative and inclining upwards on the 1 hour chart, giving overall mixed signals.
Technical resistance levels: 1.3536 1.3627 1.3796
Technical support levels: 1.3385 1.3269 1.3200
Trading range: 1.3425 – 1.3365
Sell at 1.3415 SL 1.3445 TP 1.3375
Written by iFOREX.bg