10 Jun 2013
EUR/USD extends the recovery to 1.3215/20
FXstreet.com (Barcelona) - The EUR/USD is now advancing further to the region of 1.3215/20 despite the Sentix index came in short of expectations in the EMU.
Investor’s confidence gauged by the Sentix index came in at -11.6 for the month of month in the euro area, a tad below estimates at -10.0 although better than May’s -15.6. According to Tor Vollalokken, Coach at FX Traders, “A retake of 1.3245 or the closing on Thursday should open up for a retest of 1.3305 or even the levels 1.3340 and 1.3380 where the latter likely is strong in terms of resistance”.
The pair is now advancing 0.18% at 1.3217 and a breakout of 1.3306 (high Jun.6) would open the door to 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide). On a downside, support levels arise at 1.3103 (MA100d) followed by 1.3075 (low Jun.6) ahead of 1.3053 (low Jun.5).
Investor’s confidence gauged by the Sentix index came in at -11.6 for the month of month in the euro area, a tad below estimates at -10.0 although better than May’s -15.6. According to Tor Vollalokken, Coach at FX Traders, “A retake of 1.3245 or the closing on Thursday should open up for a retest of 1.3305 or even the levels 1.3340 and 1.3380 where the latter likely is strong in terms of resistance”.
The pair is now advancing 0.18% at 1.3217 and a breakout of 1.3306 (high Jun.6) would open the door to 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide). On a downside, support levels arise at 1.3103 (MA100d) followed by 1.3075 (low Jun.6) ahead of 1.3053 (low Jun.5).