EUR/USD technical analysis toda 24/02/2010:

The market is currently locked in some sideways consolidation, with technical studies in the process of unwinding from recently oversold levels. The pair should reach the resistance level which is located around 1.3400 zone. Downward trend remains in favor of the dollar, and we expect test in support around 1.3416, which in the case of the bridge will open the way to the key levels at 1.3080.