Euro strike back vs US dollar!
I wrote yesterday on my EUR/USD analysis that I don’t know where the pair could go from the 1.2445 level, because I didn’t sow stronger support before 1.24, but as you can see on the chart, 1.2445 was the level where euro was find solid support. It’s very hard to trade this pair on those levels between 1.2400/500, because there was several deferent support/resistance levels. What next? Could euro recover from yesterday’s loss all the way to the 1.2575!? Euro looks very bullish now, after the ZEW Survey Economic sentiment data, which is much better then expectations! I see the first resistance at 1.2535/40, second at 1.2575/80.