Euros Still Limited Moving, Still Bearish Outlook
In currency trading the Asian session today (31-05), look euro currency strengthened slightly against the U.S. Dollar. Pair EUR/USD is currently moving at around 1.2325.
While the Euro has not declined further, the outlook is still very bearish. Credit Rating Spain has been cut from AAA to AA +, showing that European debt crisis seems far from over and could potentially continue to deteriorate.
The technical, Euro still remains bearish, the nearest resistance can now be found in the range of 1.2400 to 1.2500. While the opportunity to test the range of estimated Euro 1.1800 if support at 1.2140 in the range of translucent.
EUR/USD rose to a level of 1.2410 likely if past the 1.2345 resistance level.Euro weakening can occur if the past level of support at 1.2265 to the 1.2140 level.
Related posts:
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- Euro Weakens, Still Under the European Economic Outlook Good
- Sharper Stronger Euro Successful, But Still Bearish Trend
- Sterling still more likely Stronger, Economic Outlook Improving
