By: iForex.bg
Yesterday Euro/Dollar made a downward correction after the strong bullish momentum on Friday. The currency couple reached a bottom of 1.3558 and closed the day higher at 1.3580. On the 4 hour chart the Euro is now ready to test the key 1.3690 resistance level, but only if the upward scenario is renewed. Break above this level may cause further ascending movement towards next target 1.3910. The CCI indicator, however, is in the overbought zone and downwards of the time and 1 and 4 hour hour charts, so there may be a potential downward correction continuation towards the 1.3555 support level, followed by 1.3440.
Technical resistance levels: 1.3690 1.3785 1.3910
Technical support levels: 1.3555 1.3440 1.3330
