Forex: EUR/USD remains capped below 1.3000
Downside correction from Friday's high at 1.3005 found support at 1.2870 ahead of Monday's European opening, and the Euro bounced up during the session to be capped at 1.2995, right below Friday's high, and eased to 1.2960 area afterwards.
The pair is expected to remain bid over the coming sessions, according to the Swiss e Trade Technical Team, with the possibility of reaching levels above 1.3000 again: "We expect the bidding to be more or less intact today, especially from a 1.2930 intermediate down correction mark being reached. Levels slightly above 1.3000 are possible.
Resistance levels remain at 1.3000/05 (Jul 16 high) and above here, 1.3050/65 and 1.3095 (May 10 high). On the downside, immediate support lies at 1.2940 (hourly low), and below here, 1.2870 (session low) and 1.2800/10.
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