The Euro is Still Bullish Despite USD Strength: Key Levels
The Euro has been charging higher over the last few weeks and it looks like things might be changing.
The Euro has been charging higher over the last few weeks and it looks like things might be changing. The USD and the massive fall that we’ve seen since December, appears that it is slowing down.
On Friday we saw some big changes in the markets and it might be time that we looked to a slight change in trend.
1.2500 has been the top of the current run-up and I suspect we might have a hard time pushing much higher at the moment.
The bottom of the range is at 1.2350. Again given the fact that the trend, for now, is still to the upside, I think that is going to be out major support level for the time being.
This should be an interesting week in the Euro as the calendar is light and the USD is headed into some volatile waters.
Key Support and Resistance Levels
Support | Resistance |
1.2400 | 1.2500 |
1.2350 | 1.2543 |
1.2300 | 1.2572 |
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