Update: Eur/Usd Tested Trading Range

The Eur/Usd tested the trading range early this morning. That would be a bullish signal that indicates that we may see more gains for the Euro to come in the near future. The price stopped moving right at the 1.4448 resistance level that was created on August 4th, 2009

4HR Chart *Note Clicking on the chart will show your our trading software

Right now, the new support is the 1.4400 so we should be looking for a bounce off of that support to retest the 1.4448 resistance level. If the price breaks the 1.448 we will be looking for the next resistance level which is at 1.4700 area.

The fibonacci retracement support levels off of this last move are .382 is 1.4343 .500 is 1.4312 and the .618 is 1.4280 so we could see a bounce off of any of those levels as well. Keep your eye on them.

There is also additional technical charting data at Fxtech Strategy. You can also keep updated with the fundamental data at Forex Crunch.

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