Afternoon Forex comment

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Afternoon Forex comment

charlie4573

24th February 2006

Euro / US Dollar update

The Euro remained steady against the US Dollar at 118.90, with European traders unwilling to carry through the bullish tone in Asian trading. The Euro currency was trading around the 1.1920 level at the end of Far East forex trading with a move above 1.1950 to test the 1.2000 level seemingly on the cards. Some poor Italian manufacturing figures seemed enough to spook fx traders and they settled back to straddling the 1.1900 level. The short term technical support remains at 1.1865 and below that the late December 2005 low of 1.1780.