Rate scores new high overnight into early New York but sellers take a stand; likely stops building in size over the 1.3520/30 area. Firm NY open likely to attract offers if US data is USD-supportive. Close at 1.3380 area last week makes a seven week high close and argues for more upside coming but a correction is likely.

Likely bulls will lighten up. OK to buy a dip on a test of 1.3080 area near-term; dips likely to be bought hard now that sellers couldn't make a stand over 1.3000 with confidence on the three tries last week. Support also from cross-spreaders as they unwind Yen.

Rate is an absolute screaming buy in my view-I can't see further weakness being ignored by the buyers.

EURO/USD Daily
Resistance 3: 1.3580
Resistance 2: 1.3520/30
Resistance 1: 1.3500
Latest New York: 1.3503
Support 1: 1.3360
Support 2: 1.3280
Support 3: 1.3200

Data due Tuesday: All times EASTERN (-5 GMT)
2:45am EUR French CPI m/m
2:45am EUR French Final Non-Farm Payrolls q/q
3:30am EUR German Flash Manufacturing PMI
3:30am EUR German Flash Services PMI
4:00am EUR Flash Manufacturing PMI
4:00am EUR Flash Services PMI
5:00am EUR Employment Change q/q

Forex Analysis by Jason Alan Jankovsky at ForexPros.com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check http://www.forexpros.com