FX.co ★ EUR/USD strong support 1.2878 - daily strategy for May 14, 2013

This morning in the American session the euro has been falling after the German ZEW index data. It seeks new lows at 1.2930, key support area, with its break it would accelerate its low for the rest of the day. The daily fractal of 1.2878 will be the next support for the pair if the 1.2930 level is broken. On the other hand, this week we expect the pair will be trading between 1.2930/2880 support and 1.3030 resistance. The technical indicator is showing a possible rebound in the area of 1.2930.

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