USD/EUR Index: Rebound Expected.

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USD/EUR Index: Rebound Expected.

By Trading Central on February 23, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	83.5
Resistance2:	82.5
Resistance1:	81
Last:	78.1
Pivot:	75
Support1:	75
Support2:	73
Support3:	71.5

Pivot: 75

Our preference: Long positions above 75 with targets @ 81 & 82.5 in extension.

Alternative scenario: Below 75 look for further downside with 73 & 71.5 as targets.

Comment: the pair is pulling back on its MT bullish channel lower boundary ahead of a new up move.

83.5
82.5
81
78.1 (last)
75
73
71.5

*USD/EUR Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the EURO. For details go to www.ise.com

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