EUR/USD Holding Levels

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By Greg Michalowski on June 25, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

Looking at our EUR/USD chart from yesterday, we see the former trendline support did act as resistance overnight, where the Euro once again made a run, however following the FOMC minutes during NY we see the pair break back down through the old resistance and find support at the 4-200hr moving average again. The pair has since rebounded and is once again testing the trendline resistance, if it fails through the 4-200hr mavg, the next support level could be found in the 1.3489 area (61.8% retracement, see link above.)

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