In currency trading the Asian session today (21-05), look euro currency weakened against the U.S. Dollar. Pair EUR / USD is currently engaged in the range of 1.2590.

Global sentiment towards the problem of debt crisis in the euro zone remained negative, where the Germans who did the ban on short selling recently assessed as a step that reflects the seriousness of the threat of crisis in Europe. Today reported that the EU might come back to discuss taking further steps in overcoming the crisis.

The technical, Euro remains visible in the bearish trend, strengthening that occurred a few days is quite reasonable considering the Euro has been in oversold zone in a relatively long time. It is estimated that while the euro is likely to test resistance in the range of 1.2600 to 1.2800 before determining whether the bearish trend will continue or not.

EUR / USD rose to a level of 1.3000 likely if past the 1.2880 resistance level.Euro weakening can occur if the past level of support at 1.2440 to the 1.2330 level.

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