Forex: EUR/USD finds support at 1.4150

After testing 1.4245, 5-month high, and falling during the European session, the EUR/USD has finally found support at 1.4150 and it has begun to risen close to 1.4180 level. Par remains positive on the day, trading around 1.4175/85, 0.30% above today's opening price action.

The FastBrokers Research Team comments its technical point of view: "The EUR/USD kept steamrolling through May 22 highs on increasing volume, and is distancing itself from the psychological 1.40 level on Monday. It appears the action may not slow today with the 8:00 bar on the 4 hour registering a higher volume than the previous 5 sessions... Fundamentally, we find resistances of 1.4222, 1.4290, 1.4325, 1.4374, and 1.4432. To the downside, we see supports of 1.4187, 1.4117, 1.4078, 1.4024, and 1.3987. The 1.40 area serves as a psychological cushion with 1.45 acting as a psychological barrier. The EUR/USD is currently exchanging at 1.4208."