Euro closed the week at the 1.3260 area a strong support level established on February 27th. Considering the downside momentum of the last couple of days we should have to look at the next support levels, the closest support is at 1.3260 which is the high of February, next we have 1.3185 the 50% of the 1.3070/1.3260 range, further south is the 1.3050/70 area which has been tested multiple times starting on December 15th , January 9th, January 23rd, February 2nd, February 22nd and March 5th. Conversely if price holds above 1.3260 we have a resistance level at 1.3300 January 2nd high and higher up we have December 3rd 2006 high of 1.3363 and finally last weeks high at 1.3411.

Resistance levels

• 1.3668 - December 2004 High
• 1.3483 - March 2005 High
• 1.3410 - March 21^st
• 1.3365 – December 3^rd High
• 1.3300 - January 7^th High

Support levels

• 1.3260 - February 27^th High
• 1.3185 - Feb. 20th High; Mar. 7^th High
• 1.3050/70 -Decemeber 18^th Low; Mar. 5^th Low