22 December 2006, 16:06  Euro is finding a very stable market over the week

Euro is finding a very stable market over the week, after the soft US and European data. "The euro/dollar traded all over the place on Thursday to close basically unchanged. The pair should stall early today," stated Cornelius Luca Economist at Global Forex Trading. Under a more technical point of view, Luca affirms: "Initial support is at 1.3135. A break below this level would signal that Tuesday's rally was a fluke. Euro/dollar would then have support at 1.3050. Immediate resistance is at 1.3210." He concludes: "Above the strong 1.3250 level, which held on Wednesday, the euro/dollar has resistance at 1.3290. There is a pivotal high at 1.3367."

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