FXstreet.com (Barcelona) - Euro decline from 0.8775 high on May 21 accelerated on Tuesday after breaking below 0.8420 support area, and the pair extended lower on Asian session, to reach a fresh 18-month low at 0.8275, to pick up on early European session, reaching levels above 0.8300.
The pair is heading south after breaking below 0.8400, says the FXMarketAlerts Team, with next targets at 0.8230 and 0.8200: We saw the .84 area break conclusively yesterday and then a consolidation below the break in the pm. Another leg down now wall head for the next ref. pt. at the end-Nov-08 low .8230, with the .82 area just below it marking the l/t breakout from the 2008 trading range-."
Immediate support levels, according to the FXMarketAlerts Team, lie at 0.8230, 0.8190 and 0.8150. On the upside, resistance levels are 0.8355, 0.8400 and 0.8420.
Thanks: www.fxstreet.com
