FXstreet.com (Barcelona) - Decline from yesterday's high at 1.3300 seems to have found support at 1.3165 on Early European session, and the Euro is trying to push higher.
According to Carol Harmer, technical analyst at Charmer Charts, holding above 1.3160 could drive the Euro back to yesterday's levels: 1.3160 holding leaves scope for a corrective retracement back to 1.3285/1.3322 resistance. Buyers would be satisfied and take profits and sellers would once more appear to cap the market and push it lower once more.
On the downside, below 1.3165 decline could extend to levels around 1.3000, says Harmer: Below 1.3160 would see sellers once more out in force with 1.3110 then looking to entice. This support should be a short term reprise for the market, but any rallies will be headed off by sellers wishing to take this lower to 1.3024.