“Technically, hourly chart show indicators have a slightly bearish tone, while 4 hours one is mostly flat, making clear past week range and lack of certain strength. Immediate support comes at 1.2860, 20 SMA in the 4 hours charts, while key support remains to be the 1.2790 level, 61.8% retracement of the last daily fall from 1.3691 to 1.1870,” said Valeria Bednarik, collaborator at FXstreet.com.

Mon, Jul 26 2010, 00:24 GMT
http://www.fxstreet.com