Share
On Thursday, EURO rose to the highest level against USD in about seven weeks as US weekly jobless claims rose to the highest level in five weeks.
On Friday, EURO edged lower against USD ahead of a meeting between Greece's Prime Minister and German Chancellor later in the day. The pair is currently quoting at 1.2546 little changed from yesterday’s close.
The pair eased after testing 1.2590 resistance level - 38.2% Fibonacci Retracement Level of 1.3486 to 1.2042 move, and also the ascending trend-line resistance visible on daily charts.
On the upside 1.2590 seems to continue acting as strong resistance for the currency pair.
Should the pair strengthens and manages to move above 1.2590 resistance level, the is likely to resume its up-move towards 1.2670 level.
On the downside 100-day SMA near 1.2510 and 1.2500 psychological level seems to act as immediate support for the currency pair.
Should the pair break below 1.2510 – 1.2500 support zone, the pair seems to test 1.2440 strong support zone.
The pair seems to make a decisive move only after a decisive move above 1.2590 or below 1.2500.
Intraday Important Technical Levels
Support 1 – 1.2514 Resistance 1 – 1.2583
Support 2 – 1.2477 Resistance 2 – 1.2620
Support 3 – 1.2431 Resistance 3 – 1.2658
Admiral Markets
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing center «Admiral Markets», the reference to a company site is obligatory.
