FXstreet.com (Barcelona) - The Dollar recovered slightly yesterday after two days of losses, but, according to Cornelius Luca, not enough to turn around its negative outlook: The interim inversed head-and-shoulders remains in place and my model remains long. Following some profit taking, the upmove should resume. Support and resistance levels, according to Luca, stand as follows: Immediate support is now seen at 1.5726. The next level remains at 1.5685. This is followed by 1.5460. Initial resistance is now seen at 1.57957. Above 1.5865, euro/dollar has distant resistance at 1.6020.
Join the Discussion