FXstreet.com (Barcelona) - The Euro Dollar surged from a three week low on Trichet's comments, according to Cornelius Luca, economist at Global Forex Trading, the cross will be sensitive to today's labour data: The euro/dollar surged from a three-week low following Trichet's statement and tested the trendline of its channel declining since May 27. If the non-farm is strong, then the pair will go down; if not, the trendline resistance will be toast. Resistance and support levels, according to Luca, stand as follows: Initial resistance is at 1.5647. If it breaks, look for a rally to the distant resistance at 1.5755. The pair has immediate support at 1.5540. The next level is 1.5495. Below 1.5415, further support is pegged at 1.5335.
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