Thursday, September 2, 2010

EUR/USD, consolidating above 1.2800 ahead of NFP

Euro recovery from week lows at 1.2625 found resistance at 1.2850/60 area, and the pair, has remained consolidating during Asian session, trading practically flat between 1.2810 and 1.2835 with NFP on focus.

On the upside, immediate resistance area lies at 1.2850/60 (Sept 1/2 high), and above here, 1.2900 (Aug 19 highs) and 1.2925/35 (Aug 12/18 high). On the downside, support levels lie at 1.2295/10 (intra-day support levels), and below here, 1.2740 (Aug 30 high) and 1.2660 (Sept 1 low/intra-day support).

EUR/JPY decline from Monday's high at 109.55 found support on Tuesday at 106.15/20, and the pair picked up to consolidate overt the latest sessions within a range from 107.45 to 108.30.

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