EUR/USD, bears in control!
It’s not easy to get away from the bear hug, but the euro is trying. As I pointed in my last EUR/USD analysis from November 09. the pair has reached next support at 1.0650/80 yesterday, after wich the buyers have reacted and returned the pair up to 1.0773 high in this morning, but the sellers still have control here, you can see why. Break bellow this support level could be a sign for more decline toward 1.0500, which is obvious if the pair didn’t manage to reach and break 1.0850/70. Sure, that is not easy, there is several resistance areas on the way up, starting here at 1.0790/800 > 1.0835 > strong one at 1.0850/70. US dollar is strong and this will not be easy job for the euro buyers, if there is any serious one. Let’s see!?