EURO (EUR)

The Euro closed almost unchanged after dropping strongly during the day against the Dollar as speculation traders bet on its decline amid weakness in Spanish savings banks had to buy back the currency to cover wagers as stocks recovered. The EUR/USD has been trading downwards since April and has broken its support levels each time, therefore the momentum is clearly bearish and the main support is located at 1.2100 levels. If it breaks this level the Euro will continue to go down. Overall, EUR/USD traded with a low of 1.2177 and with a high of 1.2353. Today, GFK German Consumer Climate is expected at 3.7 vs. 3.8 prior.

EUR/USD - Last: 1.2293

Resistance

1.2388

1.2430

1.2415

Support

1.2270

1.2177

1.2144