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EURUSD at Interim Resistance as Support is Now 12510

EURUSD at Interim Resistance as Support is Now 12510

2012-06-06 21:56:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_body_eurusd.png, EURUSD at Interim Resistance as Support is Now 12510

Prepared by Jamie Saettele, CMT

The larger correction scenario was the proper interpretation and shorts were stopped out today at breakeven (as per Twitter). The good thing for us is that the EURUSD rally should present another decent short opportunity is probably around the corner. Currently testing resistance at 12575, support is now 12510 and resistance remains 12625/40 (January low, 5/18 low and 20 day average) and 12725 (channel).

LEVELS: 12410 12510 12540 12575 12625 12725

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