FXstreet.com (Barcelona) - EUR/USD recovery from 1.2960 low yesterday has extended during today's European session to levels around 1.3245 (Apr 27 high). At the moment, the Euro trades at 1.3250; 0.87% above its opening level.
If the Euro manages to break above 1.3245, next resistance level might le at 1.3300 (Apr 24 high), above here, 1.3365 and 1.3390 (Apr 13 high). On the downside support levels lie at 1.3160, and below there, probably at today's low at 1.3125 and 1.3085.
According to Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, the Euro will most probably, remain below 1.3300: The uncertainty that reigns in the markets and general population with regards to the Swine flu have heightened volatility, but it is safe to say that moves should be contained within the 1.2965 - 1.3300 range for now.
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