Forex: EUR/USD: Euro returns above 1.3285

Friday, May 8, 2009

The Euro has bounced up after testing support level at 1.3245 area (May 6 low) and the pair has returned above Asian session floor around 1.3275/85, reaching levels close to 1.3300 at the time of writing.

On the upside, the Euro might find resistance at 1.3325 current day-high, and above here, next resistance levels remain at 1.3350 congestion area and above there, 1.3375 (May 6 high). On the downside, below 1.3285/75, next support levels remain at 1.3245 (May 6 low) and 1.3210 (May 5 low).

EUR/JPY has risen from 130.70 support level and the Euro reaches levels close to 13200 at the moment of writing. Resistance levels lie at 132.00/15 and 132.42. On the downside, support levels stand at 130.55 and 129.85.

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