FXstreet.com (Barcelona) - The Euro's recovery after testing 1.4350 support during the Asian session has continued during the early European morning to rise around 70 pips to reach levels above 1.4400 level and hit intra-day highs close to 1.4420. Currently the pair is testing yesterday's high at 1.4420, trading around 1.4410/20, 0.25% above today's opening price action at 1.4380.
Abhishek Goenka, india Forex Advisors' analyst, affirms: EurUsd is currently trading at 1.4365 levels. Upside correction is expected till 1.4420 levels from where shorts can be initiated. Immediate support comes in at 1.4250 levels. Bias still remains bearish and shorts close to 1.4420-1.4480 levels can be taken for target of 150 pips and lower. Break below 1.4250 levels area should keep the bearish Scenario intact testing 1.4120 - 1.4150 levels. (EURUSD - 1.4372) Bearish.
The Trade The News Staff comments us the Asian session: USD majors held steady, with narrow sideways action extended from the US trading hours. EUR/USD bounced from 1.4350 - finding support at that level for the third straight day.