Euro: Under Pressure
Update on supports and resistances.
| Resistance3: | 72 |
| Resistance2: | 70 |
| Resistance1: | 69 |
| Last: | 67.65 |
| Pivot: | 69 |
| Support1: | 66.5 |
| Support2: | 65.5 |
| Support3: | 63.3 |
Our preference: Short positions below 69 with targets @ 66.5 & 65.5 in extension.
Alternative scenario: Above 69 look for further upside with 70 & 72 as targets.
Comment: the pair has rebounded on its support but remains within a bearish channel, the RSI is capped by a MT declining trend line.
72
70
69
67.65 (last)
66.5
65.5
63.3
*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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