Forex: EUR/USD hovering around 1.4400, after bouncing at 1.4335

By IBTimes Staff Reporter | January 19 2010 2:13 AM

FXstreet.com (Barcelona) - Euro decline from last week´s range top at 1.4555 area on Friday found support on Monday at 1.4330, and the pair started a tepid recovery attempt, reaching levels around 1.4400 during Tuesday's Asian session.

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At the moment, the pair quotes at 1.4390 area, with next resistance levels at 1.4415 (session high), and above here, 1.4450/60 and 1.4490. On the downside, support levels lie at 1.4375, and below here, 1.4335 (Jan 18 low) and 1.4300.

EUR/GBP downtrend from 0.9025 area on Jan 12 has extended during Asian session, and the Euro has dipped below 0.8780 on Pound's strength, to hit a fresh 4-month low at 0.8760. Support levels below 0.8760 lie at 0.8740 and 0.8700. Resistance levels are 0.8780 and 0.8830.

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