FXstreet.com (Barcelona) - The Euro is gathering momentum after the decline seen during U.S. and Asian session and, from 1.3250 support, the Euro has broken above 1.3285 resistance and trades above 1.3300 with next resistance level , at 1.3325 on sight.
In case of breaking above 1.3320/25 (May 6/may 1 high), the Euro might ind resistance at 1.3385 congestion area, and then 1.3435 (May 5 high). On the downside, support level remains at intra-day low at 1.3250, and below there, 1.3210 (May 4 low) and 1.3190.
According to Tim Salem, collaborator at FXstreet.com, the Euro could return to higher levels from support at 1.3250: Bearish Momentum with Dynamic Trendline Resistance leads to slight Consolidation over the last few hourly Candles, as Price finds Daily Dynamic Support at 1.3244. RSI Readings and Slight Upward Slope registering lower at 37 look to support a Bounce towards 1.3296 Static Resistance, followed by 1.3330 Hourly 20SMA Resistance in the Immediate-Term.
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