EUR/USD - 1.3459 Daily Market Outlook - Apr 19

By IBTimes Staff Reporter | April 19 2010 2:33 AM

The single currency fell below 1.3500 level in Asian morning, suggesting the erratic upmove from 1.3267 has indeed formed a top at 1.3692 last week and consolidation with downside bias would be seen for weakness to 1.3364 and possibly 1.3326/30, however, 1.3267/82 support area should hold on first testing and yield rebound later. On the upside, a breach of 1.3586 would indicate pullback is over and bring resumption of aforesaid rise to retrace medium-term decline for re-test of 1.3692 resistance.

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