The EUR/USD has bounced from the 1.40 level as we predicted a few days back. This area certainly appears supportive, and should continue to be. The resistive 1.4250 area is still in play, and as such – we should see consolidative movement out of this pair in the meantime. A break below 1.40 sends us down to 1.38, while a break above 1.4250 reignites the uptrend.
Written by ForexMansion.com