Forex | Forex | Forex: EUR/USD: Euro drops to test 1.4100 after GDP (31/07/2009 13:32:00)

Forex: EUR/USD: Euro drops to test 1.4100 after GDP

FXstreet.com (Barcelona) - The Euro has been weighed by U.S. GDP data, and the pair has pulled down from levels right below intra-day high at 1.4150 to test support level at 1.4100 which has hold so far, as the Euro trades at 1.4115.

Resistance levels, at the moment lie at the 1.4130/40 area (previous upward trending support line from April 22 low at 1.2885), and above here, 1.4160 and then 1.4195 (Jul 29 high). On the downside, support levels lie at 1.4085, and below here, 1.4055 and 1.4005.

EUR/JPY rally from 1.3300 low on Wednesday has been capped at 135.55 high and the pair has pulled down after GDP release to test intra-day low at 134.30. Support levels, below 134.30 lie at 1.34.00 and 133.45. On the upside, resistance levels lie at134.90/00 and 135.55.

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