EUR/USD Open 1.3025 High 1.3246 Low 1.2985 Close 1.3030
In April Euro/Dollar consolidated, but developing growth above the line of the descending trend could not be achieved. Last week the Euro recovered the losses it suffered earlier in the week. On the weekly chart the currency couple failed to develop growth and to remain above the middle term decreasing trend line at 1.3450, which indicates that sustained growth will not come for the time being. On the daily chart the European currency tried to climb several times, but every next top was lower than the previous, which carries the risk of further decline. Strengthening above 1.3350 will signal for growth. Going under 1.2980 will form decreasing signals.
Technical resistance levels: 1.3350 1.3465 1.3580
Technical support levels: 1.2980 1.2890 1.2800
