Current level at 12:01 CET is 106.46, trading below the daily pivot point level of 106.61, having seen a low today of 106.03. The daily picture remains bearish with long-term moving averages still fallling, although daily Bollinger and standard error bands are now more or less flat. Both the JPY and the USD are competing to be the weakest currencies amongst the majors at present. This has resulted in a stalmate situation for this currency pair. Pivot related support levels today are set at 105.76 and then 105.25. Resistance levels are at 107.12 and then 107.97.
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