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Wednesday, 9 April 2008

iForex.bg

Technical Analysis Daily: EUR/USD
EUR/USD 1.5712 - April 9

EUR/USD Open 1.5732 High 1.5796 Low 1.5684 Close 1.5691
Resistance for the Euro against the US Dollar is yesterday's top 1.5800, which is 75.8% correction of the descent 1.5890 - 1.5515, followed by 1.5890, where there is a double top at the top record rates, and the psychological 1.6000. In downward direction first support is expected at Monday's bottom 1.5630, which is 61.8% correction of the climb 1.5515 - 1.5795, followed by the bottom from last week at 1.5525, and the level 1.5350, till the breaking of which the uptrend remains.

Technical resistance levels: 1.5800 1.5890 1.6000
Technical support levels: 1.5630 1.5525 1.5350
Trading range: 1.5725 - 1.5660
Trend: Downward
Sell at 1.5712 SL 1.5742 TP 1.5672