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Forex: EUR/USD regaining the upside

Posted by cvbasheer on October 1, 2010

Forex: EUR/USD regaining the upside, approaches 1.3700 area
FXstretreet. com (Barcelona) – The Euro is trading on a moderate bid tone on Friday, attempting to extend its 3-week old rally, as pulback from 1.3685 high yesterday was contained at 1.3570, and the pair rose in Asia to erase losses, pushing against 1.3685 resistance on early European session.

On the upside, above 1.3685 (session high/Sept 30 high), the pair might find resistance at 1.3700 (April highs) and 1.3800/15 (March highs).

On the downside, support levels lie at 1.3555/70 (Sept 30 lows), and below here, 1.3500/05 (Sept 27 highs) and 1.3425 (Sept 27 lows).


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