lFXstreet.com (Barcelona) - Bullish reaction from yesterday's low at 1.3115 seems to have stalled at 1.3275/85 resistance level, the Euro remains moving within a narrow range around the aforementioned level for most of the European trading session so far.
Tim Salem, collaborator at FXstreet.com observes that downside momentum is still on hold, and the Euro could drop to lower levels: A Static Resistance Area @ 1.3258 keeps Price Behavior locked in a Consolidative Range 0f 1.3123-1.3306 in the Medium-Term. Continued Downside Momentum is favored as a potential Double Bottoming Formation may bein View with another Test of the 1.3123 Support Level, only to be negated if Price appreciates past Dynamic Resistance @ 1.3306 onto Static Resistance @1.3361.
EUR/JPY reaction from yesterday's low at 126.40, has reached 130.45 resistance level, which has not given way so far. Above here, 131.75 and 132.20 could oppose resistance to a potential rally. On the downside next support levels could be 128.00 and 127.00.