The Euro established a fresh high at 1.2900 on Friday and managed to find support at 1.2845 after. A test of the resistance levels formed by the yearly highs, at 1.2940 and 1.2980, look highly possible as long as the lower area of 1.28 remains intact. Support is currently seen at 1.2845 backed by 1.2800 and 1.2750. Resistance emerges at 1.2900 followed by 1.2940 and 1.2980. Both daily and hourly studies are bullish. We will be looking forward for potential tests of the 1.2900 resistance. Current quote is 1.2867 @07:05 GMT
Recommended trades:
Long in the 1.2845 area, stop below 1.2810, objectives at and above 1.2900.
