by Tue, 13 Jul 2010 02:26:00 +0200
EUR/USD holding under 1.2600
FXstreet.com (Buenos Aires) – EUR/USD Current price: 1.2589. ChartCapped by 1.2600, pair tested strong 1.2550 static support area early European morning, spending the rest of the day in a choppy tight range. Hourly indicators turned flat just below their midlines, while 4 hours ones had lost the bearish tone, thus also turned flat.
“Pair needs to extend the recovery above 1.2610 area, to regain previous bullish tone; above mentioned level, 20 SMA in the 4 hours charts close to the daily descendant trend line, both in between 1.2640/60 will be the resistance level to watch to confirm a retest of the 1.2700 zone,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.2550 1.2510 1.2460. Resistance levels: 1.2600 1.2635 1.2660
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