By CountingPips.com
EUR/USD: The euro rebounded last week against the US dollar after the showing a decline for the previous three weeks. The euro/dollar currency pair closed the week above the major 1.3000 level at approximately 1.3065. This week the 1.3000 level will again be in focus and look to provide support for this pair. Further upward momentum this week could bring us a new test of the 1.3250 level. Look for overhead resistance at the 1.3125 — 1.3150 area before a test of 1.3250. On the downside, look out for major levels of 1.3000 and then 1.2850 — 1.2885 area as providing some major buying support. The weekly MACD indicator is showing a generally neutral bias.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Research
