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Forex pairs in this Article » EUR/USD (Barcelona) - The EUR/USD foreign exchange rate is currently quoted at 1.2854, still up +0.21% so far for the week, off recent session lows at 1.2845 printed on the back of better than expected China CPI.

EUR/USD has room for a further squeeze

According to FX Charts analyst Jim Langlands, “the short term indicators look as though there is room for a further squeeze, possibly to the top of the channel that appears to be building, where the resistance is currently at 1.2940, previously also 76.4% Fibo support of the 1.3415/1.2805.”

EUR/USD key technical levels

Immediate support to the downside for EUR/USD lies at recent session lows 1.2846, followed by Friday's/yesterday's weekly lows at 1.2808/04, and May lows at 1.2797. To the upside, closest resistance shows at recent weekly highs/Thursday's lows 1.2880, followed by July 03 lows at 1.2922, and June 26 lows at 1.2982.
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