FXstreet.com (Barcelona) - After having hold today's bearish pressure, 1.3155 support level has given way at Early U.S. session on the back of declines on U.S. stock markets, and the Euro advances towards 1.3100/10 support zone.
Potential support levels remain at 1.3100/10; if that level fails to support the Euro, 1.3070 (mar 16 high) and 1.3000 could come next. On the upside, reaction above 1.3155, could find resistance at 1.3245/50 intraday level, and once above here, intra-day high remains at 1.3285.
UBS points out to 1.30/1.31 levels as key levels to determine whether this is a normal correction or part of a deeper downward move: On Friday the ultimo was traded and March was a very volatile month. It started with a low of 1.2460 and reached a high of 1.37. We look closely to support at 1.30-1.31 to check if this is a normal correction.