FXstreet.com (Barcelona) - The Euro lost ground and recovered on Monday's Asian session. From levels about 1.2690 at Asian session opening times has dropped to levels above support line at 1.2565, remaining in a range from there and a maximum of 1.2600.
According to Per-Erik Karlsson,technical analyst at Avantage Financial GMBH,the Euro is expected to fluctuate parallel with stock markets today: Expect the correlation between Euro and stock prices to be the main theme also today, which suggest stronger Euro when stocks rally and stronger USD when stocks fall. Closed above the 1.2820 falling resistance line Tuesday, which ended the recent down trend and neutralize charts and opens sideways to higher prices.
Support and resistance lines according to Karlsson, stand as follows: Only a break below the 1.2500 support would open for another leg down. Have resistance today at yesterday's high at 1.2810, with minor resistance at the 21 day EMA of 1.2832.