Current level at 11:42 CET is 1.5337, trading below the daily pivot point level of 1.5431, having traded down as low as 1.5286 in Asian business. Daily Bollinger and standard error bands remain poised to the downside and daily MACD is below the zero line. This market is eating its way down into the daily Ichimoku cloud, currently marked out within the 1.5172 - 1.5553 bracket. The current move reflects more Euro weakness than US$ strength. Fibonacci retracement levels to watch, based on the recent 1.4311 - 1.6017 range, are 1.5360 (38.2), 1.5160 (50%) and then 1.4960 (61.8%). Pivot point related support levels for today are set at 1.5329 and then 1.5264. Resistance levels are at 1.5496 and then 1.5600.
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