The Euro continued falling versus most majors after Germany announced it will ban naked short selling of certain financial stocks, credit defaults swaps and government bonds. The Euro reached a 4 year low falling below 1.22. German ZEW Economic Sentiment came out weaker than expected with 37.6 showing confidence in the EU is diminishing. Overall, EUR/USD traded with a low of 1.2144 and a high of 1.2444. EUR/USD downtrend is still strong. Oversold Daily RSI conditions could suggest a retracement is near. Today, ECB President Trichet and Buba President Weber will speak.

EUR/USD - Last: 1.2185

Resistance

1.2250

1.2440

1.2535

Support

1.2140

1.2090

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