Euro Moves Retreat from Highest Level in Nearly 3 Weeks
fxbom.com
02:41 PM
In today’s trading the euro exchange rate appear to have retreat after last night had reached the highest position in nearly three weeks later. Eroded the euro weakened ahead of the release of performance data of manufacturing and services sectors in the euro area is expected to return to show contraction for the month of January, although it will tend to slow down.
Last night the euro strengthened significantly to achieving the highest position since the 4th of January. The rise of the euro exchange rate is largely due to the expectations of immediate cuts Greek debt agreement.
Today the euro seems to have decreased from a position of closing the trade early this morning. Current position of the euro was at 1.2992 dollars, lower than the close of trading early this morning in the level of 1.3011 dollars. Last night the euro reached its highest level since January 4, at 1.3049 dollars.
fxbom.com estimate that the movement of the euro on the day this will tend to decrease although it would be limited. The euro has the potential to test the levels of support – resistance in the range 1.2940 – 1.3040 dollars.
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