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Forex pairs in this Article » EUR/USD (Barcelona) - Quek Ser Leang, Technical Analyst at UOB, notes that key EUR/USD resistance at 1.3500 was slightly breached with a high of 1.3506 last Friday.

Key Quotes

“However, the movement so far appears to be an extension of the current counter-trend rally instead of a reversal higher.”

“Only a break above 1.3580 will suggest a move towards 1.3670. Otherwise, the undertone still appears weak but only a clear break below 1.3390 will lead to a move towards the key support at 1.3295.”

“This key level is a strong support and a sustained break below appears unlikely for now.”

“Support: 1.3390, 1.3295, Resistance: 1.3580, 1.3670.”
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