Forex: EUR/USD bounces at 1.4280 low and returns to 1.4350

By IBTimes Staff Reporter | January 06 2010 4:29 AM

FXstreet.com (Barcelona) - Euro decline from 1.4485 has found support at 1.4280 low at European opening times, and the pair bounced up, returning to previous range, above 1.4340, to reach prices around 1.4360 at the moment of writing.

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On the upside, the Euro might find resistance at 1.4370 1.4370 (session high), and above here, 1.4400/05 and 1.4455. On the downside, below 1.4335/40, next support levels lie at 1,4280 session low and 1.4255 (Jan 4 low).

According to the ecPulse.com analysis team, indicators show the Euro building up from 1.4270 support, targeting 1.4500: Momentum indicators are showing positive signs that make us expect a bullish intraday direction that will build its base on mentioned support and its initially targeting 1.4500, which requires 1.4215 to remain intact for chances to prevail.

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