Today, traders keep an eye on the ECB press conference. The pair pushed to an 11-month low. On the down side, it has support at 1.3105 (a low of September 2009), below this 1.30 is the 50.0 fib level. For the rest of the year, the pair has major support between the 1.2766 (200MEma)1.2750 levels. On a weekly basis, the pair has strong resistance at 1.3250-1.3260. As we recommended in our previous articles, until the price closes above 20Dsma, selling on every up move will mint the money.
Support 1.3105 1.30 1.2750-1.2766.
Resistance 1.32 1.3220 1.3250-1.3260.
Intraday cmp 1.3148.
The price is facing strong resistance at 34hrsma for 20 hours. Above this, it can fly up to the levels between 1.3196 and 1.3221. On the down side, it has strong support at 1.3142, 1.3134, and 1.3120. The pair will face selling pressure below 1.3120, panic below 1.31 towards 1.30.
The material has been provided by InstaForex Company - www.instaforex.com
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