European currency failed at 1.2900/20 resistance area and fell to the minimal level at 1.2780.

Technical analysts at Commerzbank note that the pair EUR/USD is testing June-August support line and Jul 21 minimums at 1.2787/32. According to the specialists, only these levels can trigger euro’s advance to 1.3000 zone if the common currency manages to get above Tuesday’s maximum at 1.2918.

If the pair goes down below 1.2732, it will likely drop to 1.2673 (May 21 maximum). The next support level will be found at 1.2642 (55-day MA).



Chart. Daliy EUR/USD

More info about FBS