Thu, 10 Jun 2010 08:29:00 +0200

Forex: EUR/USD above 1.2000, approaching 1.2075 resistance

FXstreet.com (Barcelona) - The Euro broke higher yesterday,and rebound from four-year low at 1.1875 reached levels above 1.2000, and after a brief pullback to 1.1955, the pair has returned to levels right below 1.2070 resistance ahead of European session opening, and with ECB's monetary policy decision later on the day.

On the upside, initial resistance area lies at 1.2075 (Jun 9 high), and above here, 1.2110 (Jun 1 low) and 1.2150 (Jun 3 low). On the downside, the pair might find support at 1.2010 (Jun 8 low), and below here, 1.1995 (previous highs) and 1.1955 (session low).

EUR/GBP remains moving sideways between 0.8215/30 to 0.8335 for the fifth consecutive day. The pair was capped at 0.8335 week high on Tuesday and found support at 0.8230 level on Asian trade, to pick up to 0.8260 area. Next resistance levels lie at 0.8300 and 0.8335. Support levels lie at 0.8230 and 0.8205.

Technical Analysis (2010-06-10 05:43 GMT)
EUR/USD 1.2047/1.2049 - O: 1.2039 H: 1.2051 L: 1.2036 C: 1.2047
Trend	R3: 1.2102
	R2: 1.2072
	R1: 1.2042
	S1: 1.1971
	S2: 1.2001
	S3: 1.2031