The EUR/USD retreated further from weekly highs after Wall Street opening and bottomed at 1.4324, daily low. The pair found support at the mention level and rebounded to the upside, trimming losses. The recovery faced resistance at 1.4380 and currently EUR/USD trades at 1.4360/65, 0.40% below today’s opening price.
The Euro trimmed losses in the last hour but is still headed toward the first daily decline of the week. On a weekly basis it is rising almost 250 pips.
“While the euro may dip and even as far as 1.3770 (support on the weekly chart), we can easily see a return to the Nov 30, 2009 high at 1.5141 before the end of August,” wrote Barbara Rockefeller in the daily report.
The Euro trimmed losses in the last hour but is still headed toward the first daily decline of the week. On a weekly basis it is rising almost 250 pips.
“While the euro may dip and even as far as 1.3770 (support on the weekly chart), we can easily see a return to the Nov 30, 2009 high at 1.5141 before the end of August,” wrote Barbara Rockefeller in the daily report.
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