Resistance 3: $1.3300
Resistance 2: $1.3100
Resistance 1: $1.3050
Current price: $1.2780
Support 1: $1.2660
Support 2: $1.2530
Support 3: $1.2330
Comments:Yesterday US currency gained versus European rivals
after The ECB reduced its main refinancing rate by 50 basis points to
3.25%.. ECB President Jean-ClaudeTrichet said that more rate cuts are possible.
Today the dollar eased against the euro on speculation a government report will show the U.S. economy lost the most jobs since 2003, bolstering the case for the Federal Reserve to lower interest rates.Nonfarm payrolls probably fall by 200,000 in October, according to forecasts.
Sustained break above 21DMA, which is today valued at $1.3040 will lead to retest of $1.3110/20 (yesterday high and upper bound of the triangle). October 30 peak $1.3300 (38.2% of the $1.4860 decline) remains pivotal resistance. Closest support is the lower bound of the triangle formation and session low $1.2660/50. Further down rests Nov 4 low $1.2530.October 27 and 28 lows at $1.2330 area remain the key target.