FXstreet.com (Barcelona) - Recovery from 1.3170 low reached on Early European session has halted at a maximum level of 1.3285, and the Euro has fallen back to levels below 1.3265, after the negative opening of U.S. stock markets.
Next support levels lie at 1.3230 and below here intra-day low at 1.3175 before Mar 30 low at 1.3115. On the upside resistances stand at 1.3265; 1.3300 and above here 1.3340 (Mar 31 high).
On the longer point of view, Dimo Dimov adverts that the rebound from 1.3115 (Mar 30 low) has been one of a corrective nature, and the Euro could well visit lower levels: As you know I think that the rise of the euro started from 1.2457 (3 March) finished with a bearish triangle as is shown on the chart. So in my opinion the fall should reach at least 1.2884 (61.8 % retracement of the rise started from the beginning of Mach). The first phase of this fall finished at 1.3113 and a correction started from there. It has a potential to reach one more yesterday's high 1.3341. However I expect later beginning a new fall with minimum target the indicated 1.2884. A key resistance is 1.3590 (but this level is currently too far from the market). A key support is 1.3113.