Euro May Struggle to Top $1.5145, CMC Says: Technical Analysis

(Bloomberg) -- The euro may struggle to climb above $1.5145, according to CMC Markets, which cited trading patterns. The common European currency may rise toward $1.5070 “short of any setback from global equities,” Ashraf Laidi, chief market strategist at CMC in London, wrote today in a report. “Key resistance” remains at $1.5145, which is a 76 percent Fibonacci retracement, he said. The euro dropped 0.7 percent to $1.4905 as of 4:21 p.m. in London.

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