FXstreet.com (Barcelona) - The Dollar appreciated yesterday sending the Euro down to a two week low, Cornelius Luca, economist at Global Forex Trading sees the downside as limited: Euro/dollar collapsed to a near two-week low on Thursday and slightly pierced the support of the 60-day moving average at 1.5518. The downside looks limited here. Resistance and support levels, according to Luca, stand as follows: Immediate support looms at 1.5460. below 1.5415, distant support is seen at 1.5287 from a pivot low. It's unlikely to dip that low. The resistance at 1.5570 may hold on Friday. If it doesn't, then look for a rally to 1.5650. Distant resistance is perched at 1.5817.
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