Yesterday the Euro managed to trade right through discouraging data with an upward tilt and today the Euro is barely showing positive direction in the wake of a 7.5 year high in a private German morale measure.However, we have to leave the edge with the Euro nulls into and through the US durable goods report which isexpected to be unchanged. Up-trend channel support in the September Euro is seen today at 1.3594 today andthat support line rises to 1.3603 on Thursday.
Technical Outlook: Momentum studies are rising from mid-range, which could accelerate a move higher ifresistance levels are penetrated. The market’s close above the 9-day moving average suggests the short-termtrend remains positive. The market has a slightly positive tilt with the close over the swing pivot. The next upsidetarget is 136.5425. The next area of resistance is around 136.3150 and 136.5425, while 1st support hits today at135.8650 and below there at 135.6425.