Euro Could Correct Further
06/10/2009 2:49 pm EST
The euro has enjoyed a nice rally versus the dollar, having surged above 1.4300 before reversing. The weekly technical studies are positive, as are the 50- and 200-day MAs. Therefore, a further correction should be a buying opportunity. First good chart support is at 1.3700 with trend line and MA support at 1.33-3400.