The Euro rallied on yesterday and tested the barrier at 1.3200 but it couldn't break it and retraced towards the 1.3170 level. Support is now seen at 1.3170 backed by 1.3145 and 1.3110. Resistance starts at 1.3200 and it is fallowed by 1.3245 and 1.3290. Daily momentum is slightly bullish while the hourly is bearish at the time of this writing. However, the upside seems favored and while the lower half of 1.31 remains intact, there are good chances for a break of 1.3200 and a resume of yesterday's climb, towards the 1.3250. Current quote is 1.3176 @ 06:52 GMT
Recommended trades:
Long in the 1.3160 area, stop at 1.3130, objectives at and above 1.3220.
