The Euro traded in a narrow range on yesterday, bouncing on 1.2940 which seem to hold so far. While it holds, 1.3 may seem an easy target if only the resistance at 1.2975 would break. Support backs 1.2940 at 1.2900. Resistance follows 1.2975 at 1.3. Both daily and hourly momentum are favoring the upside areas. We are expecting a potential test of 1.3 later, if the first intraday support at 1.2940 holds. Current quote is 1.2965 @ 06:50 GMT
Recommended trades:
Long in the 1.2950 area, stop below 1.2920, objectives at and above 1.3.
