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Sunday, May 3, 2009

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EUR/USD: Euro hesitant around 1.2660 resistance line

FXstreet.com (Barcelona) – Despite several attempts to break resistance level at 1.2660, the Euro has failed to remain about there, and the pair’s rally from 1.2537 seems to have capped for now.In case of successful move above 1.2660, the pair will have its path cleared to attempt a rally towards 1.2700, swinging above here the next target would be the 1.2750/60 area, and above here the Euro would have 1.2800 resistance level (Feb 26 high) at sight.On the downside next support level is session high at 1.2632, and below there intra-week low at 1.2535, below here 1.2510 (Feb 18 low) and then 1.2420 (Nov 21 low).

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