FXstreet.com (Barcelona) - The Euro has bounced at 1.4085 area on its pullback from Asian session low at 1.4175, but the pair 's attempts to take off have been cut at 1.4130 resistance area.
On a wider perspective, the Euro remains on the upside after having bounced at 1.4045 low on Monday, although Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, observes the need to break above 1.4240: Intraday the trend is up with the pair having made higher highs and higher lows in the last 3 days but still a break above 1.4240 is needed to squeeze out the 10 day downtrend short sellers. Final medium term uptrend and support below at 1.4034.
Resistance levels, according to Rosentreich, lie at 1.4178, and above here, 1.4240 and 1.4320. On the downside support levels lie at 1.4101 and below there, 1.4034 and 1.3950.