Resistance 3: 1.5600/10

Resistance 2: 1.5550

Resistance 1: 1.5490/1.5500

Latest New York: 1.5435

Support 1: 1.5380/90

Support 2: 1.535060

Support 3: 1.5300/10


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 continue into next week. Rate clears close in stops again. Strong long-liquidation break is still coming; Watch for two-way volatility. Be ready to re-short quickly when the rally ends, look for a short-covering rally to stall around the 1.5550/1.5600 area again; look to re-short in that area.

Data due Tuesday: All times EASTERN (-5 GMT)

Tentative EuroGroup Finance Ministers Meeting

Analysis by: written by Jason Alan Jankovsky


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