Friday, 8 April 2011

Forex: EUR/USD, resting at 1.4300 after ECB

FXstreet.com (Barcelona) - Almost unchanged since past Asian session update around 1.4300, pair fell following Trichet statement, exacerbating the fall on some risk aversion triggered by a second earthquake in Japan.

Bulls were able to regain the bid tone from lows at 1.4240, forcing a rebound late US trade towards the mentioned round number handle. “Slightly bullish yet with no enough momentum according to the hourly chart, pair needs to overcome 1.4330 to resume its bullish trend” commented Valeria Bedanrik, Chief Analyst at Fxstreet.com.

Support levels: 1.4280 1.4250 1.4210, Resistance levels: 1.4330 1.4350 1.4385

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