Euro/Usd Midweek Update

Even though, German Zew Report came worse then expected Euro went higher against US dollar today. The reason more likely overall risk averse sentiment going positive towards EURO and GBP.

On our previous blog we talked about 1.27 resistance for Euro and today Euro broke that level and went higher.
Now, we are looking for next big resistance at 1.3124 which is 38.2% fibo (Please read previous blog). It will not happen overnight but we don't see any big resistance before that on a daily or weekly chart.

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