Euro (EUR)

The Euro rose against the Green back on speculation that the ECB will be hiking rates sooner-than-expected. This comes as Bank President Trichet said today, that the ECB policymakers will take the necessary actions to maintain price stability. If the pair will break its resistance at 1.3775, we will be witness to the levels we had seen in November 2010. The EUR/USD momentum is bullish as long as the rate is above 1.3750. If the pair breaks below this level, the Euro will probably decline to 1.3680. Overall, EUR/USD traded with a low of 1.3526 and with a high of 1.3775. No major economic data is expected today.

EUR/USD - Last: 1.3750

Resistance

1.3775

1.3810

1.3840

Support

1.3720

1.3680

1.3640

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