Tue, Jun 16 2009, 15:27 GMT
FXstreet.com (Barcelona) - After falling around 85 pips from intra-day high at 1.3935, the EUR/USD has find support at 1.3850 level and the pair has risen above 1.3900 to test the 1.3920 resistance. Currently the pair is trading around 1.3910/20, 1.00% above today's opening price action.Lena Manousarides, analyst at SpikeCharts, comments: "The EUR/USD is trading heavily since the beginning of the week and the slide we witnessed yesterday managed to find a stop at 1.3760 a very strong support level. As long as 1.3830 keeps for today we may see a run up towards 1.40 in the coming days. The dollar does not have a clear direction for now, hence the pair’s tight ranges, therefore we need to see a clear break of either 1.40 on the upside or 1.37 on the downside before we can say that something meaningful is happening."The Currency at Glance FXstreet.com Trend Index points EUR/USD Strongly Bullish with a OB/OS Index showing Neutral
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