| S3 | S2 | S1 | R1 | R2 | R3 |
|---|---|---|---|---|---|
| 1.2343 | 1.2374 | 1.2406 | 1.2546 | 1.2578 | 1.2609 |
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Monday, June 11, 2012
Downward Pressure on EUR/USD
Well everyone, with EUR/USD sitting around 1.2504 we definitely are seeing offers (see last post). It was short lived hype, and with a date cat boune and EUR moving below the 100 MA it looks like this downward pressure will continue. I would say that barring any rumours or new on Tuesday, look to Wednesday for news in the US to help with direction. Strong numbers in the US will boost USD, and put even more pressure on the EUR. Technically we sit at these levels:
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