The Euro rose from its 4 year low gaining by 1.5% versus the Dollar over speculations European leaders may announce steps to help the Euro and spur traders to close their short positions. Equity markets continued declining despite the Euro's strengthening. Overall, EUR/USD traded with a low of 1.2144 and a high of 1.2431. EUR/USD jumped above following extreme oversold RSI conditions, but the main trend continues to be downwards. Today, German PPI is expected with 0.6% versus 0.7% prior.

EUR/USD - Last: 1.2370

Resistance

1.2440

1.2535

Support

1.2315

1.2250

1.2140

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