Fxstreet.com (Barcelona) - After falling 55 pips in the last hour, the EUR/USD is testing the 1.3200 support level. Currently, the pair is trading around 1.3515/25 after falling 0.36% from the 1.3266 today's opening price.
Yesterday, Euro falls 0.80% against USD from the opening price at 1.3374, reaching 1.3377 as maximum and 1.3226 as minimum, to close the day at 1.3268.
Nicole Elliot, Mizuho Corporate Bank's analyst, says: Retreating from the top of the Ichimoku 'cloud', holding above the 26-day moving average. A sustained break above 1.3400 might turn momentum bullish, keeping in mind that the Euro is not at all overbought, and one-month at-the-money implied volatility looks set to base against the 14.00% area.
Elliot provides us with her strategy: Buy at 1.3250; stop below 1.3100. Add to longs on a sustained break above 1.3400 for 1.3600 and then more.
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