Forex4you Technical Analysis 28 Dec 2011

EUR/USD: Technical Analysis

Eurodollar is still meandering in a tight consolidation zone. A small rally this morning did however reach resistance from the trend-line at 1.3080 and this could push the exchange rate back down to the range lows at around 1.3030, given the overall downside bias. No major moves are expected until volume picks up after the Christmas break.

Analysis by: Joaquin Monfort
                    Forex4you analyst

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