The Euro failed to get past 1.2870 on yesterday and fell back into the area where it started to climb during the Asian session. Support is seen at 1.2800 and it's being tested now. Lower, support is seen at 1.2750, 1.2700 and 1.2660. Resistance is formed at 1.2845 and 1.2875. A potential break of the two resistance levels would bring 1.2900 and 1.2940 in focus. Daily momentum lost strength and a close below 1.2750 may turn it bearish. Hourly studies are neutral. Current quote is 1.2808 @ 06:37 GMT
Recommended trades:
Short in the 1.2830 area, stop above 1.2860, objectives at and below 1.2760.
