Resistance 3: 1.5600/10
Resistance 2: 1.5570/80
Resistance 1: 1.5550
Latest New York: 1.5535
Support 1: 1.5500/1.5490
Support 2: 1.5450
Support 3: 1.5400
Bounce is developing nicely, rally over the 1.5400 handle significant. Rate holds opening range on the fall-back; solid sign of no sellers left. Rally back from dip under the 1.5400 on stops suggests more losses are coming but a corrective bounce is needed (which is developing now) Support at 1.5280 is firm near-term. Look for rotation higher to end about now—the next 24-36 hours. Rate clears close in stops again. Strong long-liquidation break is still coming; Watch for two-way volatility. Short-covering rally stalled where expected in the 1.5550/1.5600 area again; look to re-short in that area now.
Data due Tuesday: All times EASTERN (-5 GMT)
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Analysis by: Forexpros.com written by Jason Alan Jankovsky
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