EUR/USD: The Dollar reversed overnight losses
The Dollar recovered most of the ground lost overnight, and according to Cornelius Luca, economist at Global Forex Trading, it could have reached a peak: “A peak is probably in place, but confirmation is needed. Immediate support is still in place at 1.5530. A break below this would strengthen the case for a major decline. Below 1.5545, there is further support at 1.5285.” Resistasnce levels, according to Luca, stand as follows: “Initial resistance is at 1.5650. The next level is 1.5720. Above 1.5755, resistance now comes at 1.5830 and then at 1.5902.”
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