The Euro for the Close & Dollar Rally Against Swiss
Reply
We have a shot that today may provide a temporary low for the Euro. We do have a Daily Bearish Reversal at 10546. So far the Euro has fallen to 10510. As you cab see, we also have technical support today at the 10549-10543 level. So a closing back ABOVE 10546 today will raise hope that a temp low will hold briefly. Key resistance is now forming at the 11000-11100 area.
Key levels of support will lie at par 10000, 9800, 9663, 8993, 8635, and 8430 on a closing basis. A rally back to the 110 area is possible if we hold today.
We warned that the dollar would rise against the Swiss. We have exceeded par once again. Resistance stands at the 101 level, but this is illustrating just how mighty the dollar rally truly is.
