The Euro weakened versus the Dollar after lower than expected CPI data in Switzerland contributed to the assessments that the next rate hike in Europe will be at 2011 and not sooner. Overall, EUR/USD traded with a low of 1.3537 and a high of 1.3635. EUR/USD is still trading in a daily channel between 1.3780 and 1.3450 waiting for a catalyst to break out of this range. Today, French Industrial Production is expected with 0.3% versus -0.1% prior. ECB President Trichet will speak in Frankfurt.

EUR/USD - Last: 1.3600

Resistance

1.3635

1.3695

1.3740

Support

1.3530

1.3500

1.3450

width=450