The Euro stepped below 1.28 on today's Asian session reaching lows at 1.2761. Hourly sentiment is bearish while the daily is near a bearish confirmation in case of a close below 1.28 today. Support is now formed by 1.2750, 1.2700 and 1.2660. Resistance emerges at 1.2800 followed by 1.2830 and 1.2875. Looking on the daily charts, we notice that the pair retraced to the 61.8 fib level of the 1.2675-1.2900 move. We will be looking forward for a potential recovery of the Euro, aiming towards the first important resistance seen in the 1.28 area, at 1.2830. Current quote is 1.2773 @06:53 GMT
Recommended trades:
Long in the 1.2765 area, stop below 1.2730, objectives at and above 1.2830.
