Price action on EUR/USD (a daily chart of which is shown) as of Monday (1/03/2011) has been rangebound within an approximate 500 pip trading range since the 1.2970 low was hit about a month ago. Resistance on this range resides around the 1.3500 price region while support remains in the 1.3000 psychological support area. For more technical analysis on this currency pair, please click here for Monday’s (1/03/2011) Chart of the Day.
James Chen, CTA, CMT
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