Forex Technical Comments

Euro held strongly above the 1.28 levels in yesterday’s session and witnessed a short term rally upto 1.3115 levels where it faced resistance from the 21 daily EMA. Euro is currently trading around 1.2860 levels with the 4-hourly stochastic showing a downside. Immediate and cluster support comes in around 1.2810 breaking which Euro can trigger upto 1.27 levels. Shorts should be considered at higher levels. Focus is on the ECB rate decision today. (Euro: 1.2861)



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