Forex: EUR/USD targets 1.2900

on Jul 9, 2013
Listen Tuesday July 09th_: The market yesterday raised the price of the pair by 0.48 percent. Today the daily candle opened at 1.2859, with the price since falling to a low of 1.2844 and rising to a high of 1.2897, and currently trading at 1.2885. The Asian session brought the price up to be touching the descending 89-hour simple moving average, from which the pair is at the moment rebounding.

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The MACD (9,12,1) convergence on the hourly chart has been pushing the price upwards since yesterday and today the 1.2895 minor resistance level was tested and is holding thus far.
Resistances: 1.2905, 1.2935 and 1.2985.
Supports: 1.2845, 1.2810 and 1.2775.



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