FX.co ★ EUR/USD weekly pivot at 1.3241 - for January 16, 2013 (Daily Strategy)

Yesterday the euro fell back to the level of 1.3250, just above the weekly pivot of 1.3241. Yesterday we mentioned in the analysis that this level would offer immediate support, so we see now in the American session the euro bounced above this level. This level is key, so if the euro closes below this level, the fall is secured to the psychological level of 1.30. Thus, we must be very careful at this level; the upward trend will become increasingly stronger above the 1.3240, to the target, 1.35. but the way up is very complicated.

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