Daily Forex Technicals |  Written by TheLFB-Forex.com |  Jan 22 09 03:43 GMT | 

The euro caught a bid on the U.S. equity market rally late in the trading day on Wednesday and the pair shot up 200 pips from the low seen. The pair, seen here on the four hour chart still has not been able to break above the neutral 50 line on the RSI, which denotes that it has entered buy territory. The pair ran into fairly strong resistance in the 1.3030 which ironically acted as a strong support level late last week. If this resistance level were to go the pair would have the 50 day SMA at 1.3230 and slight resistance may again be seen at 1.3540

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