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EUR/USD

Thu, Jul 2 2009, 06:58 GMT
by Carol Harmer

Charmer Charts.com


EUR/USD

EURUSD

Eur/Usd broke higher and traded up to 1.4200. The sellers have smacked this lower this morning, and looking to test the 1.4085/80 support. Sellers will cover shorts at these lows. Buyers will test the water, but they will be quick and nifty to bail out if sellers take this below 1.4065.

You would then find the 1.4020/00 support coming under attack and buyers will show solidarity and stand fast at these lows., They should be able to manage to drive this higher, as the short term charts are obviously oversold after yesterdays move.

Now if 1.4085/80 holds there is scope once more for the 1.4180/1.4200 resistance to be tested. Sellers will command respect at these highs and only a determined effort by the buyers will break their resolve. If buyers manage to break above 1.4200 look for 1.4250/70 as your immediate attraction.

Published on  Thu, Jul 2 2009, 07:00 GMT


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