Euro (EUR)

The Euro dropped from the highest level against the dollar since November as European Central Bank President Jean-Claude Trichet dimmed the prospect of a boost in borrowing costs when he said inflation risks are balanced. As long as the rate below 1.3600 the momentum of the Euro is bearish, the next support level on the four hours chart is located at 1.3540. Overall, EUR/USD traded with a low of 1.3543 and with a high of 1.3677. Today, no economic data is expected.

EUR/USD - Last: 1.3610

Resistance

1.3665

1.3770

1.3860

Support

1.3600

1.3540

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