Hello Traders, After yesterday's ineffective efforts of ECB to weaken the EURO, market is likely to reward the greenback today. The following are the technical levels in my opinion.
Having breached descending trend line resistance near 1.3650, the EURUSD ranged high towards 1.3670; however, failure to surpass the level once again leading it towards 1.3630 level. Should it reverse the from the current level 1.3670 and 1.3690 becomes important resistance before it tests 1.3730 and 1.3750 levels. On the downside, sustained trading below 1.3630 is immediately followed by 1.3620 and 1.3585 support levels.
Having breached descending trend line resistance near 1.3650, the EURUSD ranged high towards 1.3670; however, failure to surpass the level once again leading it towards 1.3630 level. Should it reverse the from the current level 1.3670 and 1.3690 becomes important resistance before it tests 1.3730 and 1.3750 levels. On the downside, sustained trading below 1.3630 is immediately followed by 1.3620 and 1.3585 support levels.