FXstreet.com (Barcelona) - Decline from 1.3390 high reached on April 14th has continued during today's European session and the Euro has posted a fresh one-month low at 1.2945, to attempt recovery, reaching levels around 1.2975at the time of writing.
In case of dropping below 1.2945 intra-day low, next support level could come at 1.2900 and beyond here1.2835 (mar 16 low.) On the upside, 1.3020 could be the next resistance level, and above here, 1.3060.
According to Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, 1.2517 is the mid to long-trm focus on the downside: Mid to long-term focus is now on 1.2517 with loose supports at 1.2785. On the upside, initial resistance stands at 1.3068, however previous key level at 1.3117 - with 1.3180 as strong pivot, any significant push past this level would signal a momentary turn in direction.
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