Resistance: 1,2815-20/ 1,2860/ 1,2905-20/ 1,2960/ 1,3030/ 1,3060-70/ 1,3110/ 1,3185/

Support : 1,2750/ 1,2700-10/ 1,2620-25/ 1,2550-60/ 1,2500/ 1,2435-40/ 1,2350

Comment: Yesterday was negative for euro, as the interest rate announcement and Trichet's comments led euro lower, below 1,2800 and then returned to 1,2900 area.

The day started with euro moving below 1,2800 and first important support id found at 1,2700-20. A clear break of 1,2700 ,would have technically as target the area of 1,2550-70, with interim support at 1,2625-30.

A move above 1,2910-20 area, would be a positive sign for euro and in that case we could see a move to 1,3050-70, where previous lows were formed.. A break of 1,3100 would indicate the trend reversal, and first target would be at 1,3350-00 and then 1,3800 area.

For now we will follow the current downtrend, until we see reversal signs.


High volatility is expected today and we will move at the ranges, which means buy orders at 1,2700-10, with stops below 1,2650 and sell orders at 1,2900-20, with stops above 1,2960.

Buy orders could also be tried at the base of 1,2550-80, with stops below 1,2500. Sell opportunities emerge at 1,3050-3100 area.