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| EUR/USD The Euro rallied on yesterday as a result of the FOMC meeting, resuming the rise during today Asian session. The break of the 1.2600 resistance confirmed the bullish momentum on the daily charts. Resistance is now formed by 1.2640 which is being tested at the time of this writing and 1.2660 higher. Resistance also emerges at 1.2700. The downward trendline resistance formed on the daily charts is now seen around 1.2650. Support is formed by 1.2600 on first place, backed by 1.2575 and 1.2525. We are expecting the Euro to face a solid barrier at 1.2660. Current quote is 1.2636 @ 03:20 GMT Recommended trades: Short in the 1.2660 area, stop above 1.2690, objectives at and below 1.2600. | |
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