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Wednesday, July 6, 2011

EUR/USD - Time to test support

It's time to test the minor support-band in the 143.23-143.25 area. We are not oversold, we don't see any divergence, so I will be surprised to see this band hold. A break below 143.23 will open up for a continuation towards the 142.34 - 142.42 area and possible even the 141.65-141.78 area.
Short term resistance is now found at 144.10 and at 144.57 (the later should not be broken to keep the downside pressure)




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