EUR/USD Testing Resistance

New York London GMT Tokyo Singapore

EUR/USD Testing Resistance

By Cory Mitchell on June 30, 2009 | More Posts By Cory Mitchell | Author's Website

EUR/USD Tests Resistance

The pair is currently pushing higher to test the 1.4140 level. This is a significant level and could give us early indications of where we are going over the longer time frames.

If the resistance level at 1.4140 is broken the next resistance is a former spike high at 1.4175. If the break is real, a target for the breakout is 1.4250. There is also some resistance expected at 1.4200-1.4210.

Failure at the 1.4140 level will find minor support at 1.4100, 1.4060, 1.4000 and strong support at 1.3980.

USD/JPY in Range

After the push higher yesterday the pair is very much back in a trading range.

Early action today has been contained between 96.30 and 95.80. A break above 96.30 is likely to move to the 96.60 resistance level and beyond that 96.90.

A break below 95.80 is likely to find support at 95.60, 95.30 and 95.10-95.00.

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

Macedonia’s Jan.-Sept. Trade Deficit At US$1.61 Bln - 1 day ago
Natural Gas Prices Extend Two-Month Low - 1 day ago
Stocks Finish Modestly Higher Despite Weak Jobs Report - U.S. Commentary - 1 day ago
Treasury Economist: Unemployment Numbers Disappointing But Not Unexpected - 1 day ago
Consumer Credit Fell By $14.8 Bln In September - 1 day ago

Opinions From Our Contributors

Commodities ‘Worst Is Behind Us,’ UH Economist Says Non Farm Payrolls To Bring The Bears Out Eight Months Into The Rally, What’s Next For The US Stock Market And Gold? Update: Gold’s Expanding Arc In Daily Chart Back To Bubble Land Fuel Your Stock Portfolio With BHP Billiton: The Best-Run Commodities Company In The World Will Gold’s Historic Bull Run Spill Over Into Silver? Gold, Silver, Oil And Natural Gas Have Gone Wild! Why Now Is The Time To Buy All Things Silver! Gold Is Going To Suffer A Serious Correction In Dollar Terms Read More »	Financials Stock Picks For Monday: Citigroup, JDS Uniphase And General Electric Are Discount Broker Shares Worth Owning? Investment News Briefs: UBS Fined $13.3 Million; Exxon And Shell Sign Iraq Oil Contract; Shares Of Ancestry.com Soar On IPO Retaining Risk On Wall Street: Necessary But Painful A Still-Safe 18% Dividend In “Virtual Banks” Goldman Sachs ‘Shooting Fish In A Barrel’ Warren Buffett Goes “All In” On America… How To Play The Oracle’s Big Bet IASB At Odds With FASB On ‘Extend And Pretend’ Option Traders Suggest Further Retail Sector Weakness JPMorgan Settles SEC Charges, Agrees To Pay More Than $700 Million Read More »	Exchange Traded Funds Rydex Market Timer Funds: Extremely Mixed ETFs To Cover What Warren Buffett Is Buying 10 Reasons ETF Tracking Error Occurs Law Firm Files Class Action Lawsuit On Behalf Of Investors In ProShares Ultra Oil & Gas Fund (DIG) 6 Reasons To Watch China’s ETFs Five Tips For Trading ETFs The Carry Trade: What Is It And How To Play It? Midday Market Update: Jobs Report Cheers Wall Street Gold ETF: With Each Push Higher, Volume Has Been Declining Gold To Continue Its Record Run As Central Banks Stock Up Read More »
Stocks Month To Date Market Review S&P 500: Market Is Strong, But Correction Should Continue Doctor Up Your Portfolio With This Medical Communications Company Dendreon Corp.: Put This Promising Biotech Stock On Your Watch List Has Asia Dethroned Detroit As The Auto Sector Leader? Three Marketing Giants Adjust To The New “Post-Crash” Reality Market’s Reaction To The US Unemployment Report: Neither A Buyer Nor Seller Be Stock Market Movers: Nvidia, Blue Coat Systems, The Clorox Company Stock Picks For Friday: Motorola, Crocs And Cell Therapeutics Did Warren Buffett Get A Good Deal On Burlington Northern? Read More »	Forex Australian Dollar: The Downside Prevails Canadian Dollar: Caution USD/JPY Moves Below The 89.82 Level As Stocks Move Back And Forth Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Friday’s Forex Outlook US Dollar Steadies Before Friday’s NFPs But Should We Expect Breakouts? Who Cares About The US Dollar? Read More »	Economy US Unemployment Rate Troubling, But … Cartoon: It’s Still The Economy, Stupid Extension Of US Unemployment Benefits: Will That Really Benefit The Overall Economy? The Economic Implications Of Being Out Of Work For Six Months Or More Fed Signals “All Systems Go” For More Inflation Cartoon: It’s Tough To Pay Taxes Without A Job The Good, Bad And The Ugly: The Economies Of Australia, US And UK Cartoon: Cannibal Capitalism An In-Depth Look At The Unemployment Report Mancession Update: Record Oct. Male Jobless Rate Of 11.4%, Female Rate Still 1.6% Below 1982 High Read More »