Weekly Analysis EURO/USD
By Ava FX Analysts Department
posted 9:12 01/17/11
| Signals Technical Analysis
 
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After opening lower, last week, the EURO to DOLLAR recovered rather nicely and climbed higher. However it did cross and important 1.344 line and eventually closed at 1.338.

Going forward today and this week, 1.344 is the important resistance line to watch.

Going above 1.357 support line was only minor, and is now a minor line of resistance. Going higher, 1.37 served as support and is now another minor line of resistance.

Going to 1.378 was the peak before falling in November. This is now the important resistance level.

Looking down; minor and immediate support is around 1.3325. We find even stronger support at 1.3080. Also look at 1.2970 at the bottom which occurred last in November. This will be another important support line.

 
 
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