FXstreet.com (Barcelona) - The Euro reached 1.60 Dollars in yesterday's US session, to retrace somewhat afterwards. Cornelius Luca, economist at Global Forex Trading advances choppy trading for today: Euro/dollar finally broke above 1.6000 in a very choppy manner and my model was forced to turn long again. The uptrend remains in place, but choppy trading should prevail.
Resistance and support levels, according to Luca, stand as follows: Above 1.6020, the next levels are 1.6040 and 1.6080. Distant resistance is now seen at 1.6185. Initial support is seen at 1.5945. Below 1.5874, Euro/Dollar has support at 1.5815 and 1.5760. Distant support is at 1.5715.