FXstreet.com (Barcelona) - Euro Dollar has turned southwards after rejection from 1.3343 yesterday's high, reaching levels right above 1.3175 support zone, which, according to Tim Salem, collaborator at FXstreet.com
Salem advices to watch 1.3200 for further upward moves: Euros tried to trade higher yesterday reaching 1.3343, but faltered at these higher levels and has quickly come back to within the range. Now if the market fails to break lower and holds the 1.3200/1.3175 region buyers should re-emerge and push this higher once more. At 1.3270/95 there will be a bit of a struggle as to who takes control, but if this can go above 1.3290 again.
On the contrary, 1.3110 could trigger, in Salems view, further dips: Below 1.3110 negates moves higher and leads the market lower through to 1.3070 initially. Fresh sellers will appear if below 1.3070 as the market should then come lower with 1.2940/30 then your short term objective.