EUR/USD Technical Analysis 16 July 2009

By: iForex
Euro/Dollar rose on Wednesday. The currency couple made a bottom at 1.3964, than climbed up to 1.4128, forming divergence on the 1 hour chart. Quotes soon may be testing again the the key 1.4130 resistance. Break of that level may trigger further bullish impulse towards next objective 1.4235. Immediate support is yesterday's bottom at 1.3965. Penetration of that level may provoke stronger descending prospects. The CCI indicator is in the neutral zone on the 1 hour chart. Technical resistance levels: 1.4130 1.4235 1.4350 Technical support levels: 1.3965 1.3850 1.3715