The VERY important level for EURO

[forexsource]

I think the 1.3610 will be a major resistance for the euro in the days to come.(it is close to the 1.3633 78.6% fib level April high - May low) For the last couple of days it was the daily high, moreover it was the highest level the price visited since May 2nd. A break through 1.3610 and 1.3633 will result in a major euro rally.

Happy trading,
Steve

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ForexSource - FX resources and trading strategies

[dekac]

Hi

The Euro (EUR) eased on Wednesday, on the back of positive US data. Despite inflationary data in the form of Eurozone CPI being released better than expected at 1.9% for the month April (Forecast: 1.8%). Overall the EUR traded with a range of a low 1.3504 and a high of 1.3610 before closing the day at 1.3519 in the New York session. Looking ahead the ECB monthly report will be made public on Thursday.