Wednesday, July 28, 2010
Laxmi rai hot in black choli
Forex: EUR/USD eases from 1.3025, to session low at 1.2965
Euro upmove from Friday's low at 1.2795 reached levels above 1.3000 during Asian session, although, rejected at 1.3020, the pair has pulled back on European trading to session low ar 1.2965 at the moment of writing.
On the downside, the pair might find support at 1.2965 (Jul 23 high) and below here, 1.2915/25 (Jul 21/22 high) and 1.2880 (Jul 26 low). Immediate resistance lies at 1.3020/30 (session high/Jul 20 high) and above here, 1.3095 (May 10 high) and 1.3250 (mar 25 low).
The overall bias, however, remains positive, according to by Stoyan Mihaylov, technical analyst at Deltastock.com, with the pair aiming to break 1.3028 en route to 1.3120: "The overall bias remains positive for a break above 1.3028, towards 1.3120. Initial intraday support comes at 1.2960 and that area should provide a reliable base for the next leg upwards."