The Euro gained versus the Dollar after reaching 14 month lows. Rumors about a new emergency plan by the EU helped the Euro gain back, despite the strong negative momentum. Overall, EUR/USD traded with a low of 1.2585 and a high of 1.2798. EUR/USD is on a clear downtrend but oversold conditions according to the daily RSI could lead to strong retracements upwards. Today, French Industrial Production is expected higher with 0.3% versus 0% prior.

EUR/USD - Last: 1.2835

Resistance

1.2950

1.3000

Support

1.2800

1.2700

1.2600

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