EUR/USD
June 1, 2012 - Current level - 1.2362
Daily Technical Analysis on EUR/USD
EUR/USD intraday: capped by a negative trend line.
Pivot: 1.2430.
Our Preference: SHORT positions below 1.243 with targets @ 1.231 & 1.2295.
Alternative scenario: The upside breakout of 1.243 will open the way to 1.247 & 1.2505.
Comment: as long as 1.2455 is resistance, look for choppy price action with a bearish bias.
The outlook here continues to be absolutely negative and I expect another leg downwards, to 1.2150 support area. Initial intraday resistance is projected at 1.2370, followed by the crucial 1.2430.
resistance
intraday intraweek
1.2430 1.2815
1.2510 1.2910
support
intraday intraweek
1.2325 1.2330
1.2241 1.2150