Forex | Forex | Euro slightly bullish on choppy summer trading (21/08/2009 00:01:00)

Euro slightly bullish on choppy summer trading

FXstreet.com (Buenos Aires) - After Euro managed to close the day with modest gains against dollar due to rising equity markets, Asian session begins with the currency tending to the upside. Quoting around 1.4260, close to 1.4275 weekly high accomplished late in the American afternoon, break above that level could send the pair to test the 1.4300 area, ahead of stronger 1.4340 level. Supports for the next hours will be at 1.4230, and 1.4200, that had capped the downside since past European session.

As usual, clues will come from stocks; Nikkei is expected to rise, helped by Wall Street gains, thus will find a strong resistance at the 10500 points level. Investors will still be watching Chinese stocks as, despite past Thursday gains, the index was unable to recoup previous session losses.

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