FXstreet.com (Barcelona) - The Euro seems to be advancing at a strong pace after its recovery from yesterdays dip to 1.3000, and fuelled by a better tan expected German Ifo business climate Index, the Euro has hit a fresh two-weeks high at 1.3235.
In case of further climbing, next resistance levels could stand at 1.3269 (Apr 16 high) and 1.3300. On the downside support levels stand at 1.3200 (Apr 17 high) and 1.3160 (Apr 23 high).
Nevertheless, after a rally of about 250 pips, Tim Salem, collaborator at FXstreet.com, warns about a corrective setback: Corrective Behavior is needed for Directional Integrity, where a pullback to the Hourly 20SMA/200SMA Bullish Cross @ 1/3088 also has Confluence with the Daily Pivot. Failure sees Depreciation back into the Congestion Zone/ Static Daily Support of 1.3018, followed dynamically by the 1.300 Figure.
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