EUR/USD bearish under 1.4365

 @ibtimes on December 30 2009 6:50 PM

FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4338. Despite thin markets and high volatility, dollar managed to gain the upside against most rivals, after Chicago PMI's labor subcomponent moved into expansionary territory for the first time in a long time supporting speculation on FED removing stimulus measures sooner, as labor market is the key of their tightening policy. For current Asian session, and many markets shut for holidays, expect regional stock markets and forex to remain in tight ranges.

Bias for EUR/USD remains bearish as long as under 1.4365 resistance area. Hourly indicators show pair mostly flat, with no clear bias for next hours, as well as bigger time frames. Back under 1.4305 area, pair could regain past Wednesday bearish momentum and retest the lows 1.42, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.4305 1.4280 1.4250. Resistance levels: 1.4365 1.4410 1.4450.

.

Join the Discussion