2 Jul 2013
EUR/USD in session lows around 1.3030
FXstreet.com (Edinburgh) - The selling pressure around the shared currency is now intensifying on Tuesday, dragging the EUR/USD to test fresh daily lows around 1.3030.
EUR/USD trimming earlier gains
The pair is now eroding yesterday’s gains after positive data from the manufacturing sector in both the euro area and the US economy lifted the euro from lows in sub 1.3020 levels. In light of the ECB gathering on Thursday, market chatter coincides that the central bank would hold a dovish tone, increasing the downside risks for the pair. It is expected as well that President Draghi acknowledges the recent positive news in the bloc, finally pointing to a long-waited recovery in the second semester.
EUR/USD levels to watch
As of writing, the pair is losing 0.28% at 1.3026 and a breakdown of 1.3004 (low Jul.1) would target 1.2991 (low Jun.28) en route to 1.2985 (low Jun.26). On the flip side, resistance levels align at 1.3103 (high Jun.28) ahead of 1.3115 (MA30d) and finally 1.3151 (high Jun.25).
EUR/USD trimming earlier gains
The pair is now eroding yesterday’s gains after positive data from the manufacturing sector in both the euro area and the US economy lifted the euro from lows in sub 1.3020 levels. In light of the ECB gathering on Thursday, market chatter coincides that the central bank would hold a dovish tone, increasing the downside risks for the pair. It is expected as well that President Draghi acknowledges the recent positive news in the bloc, finally pointing to a long-waited recovery in the second semester.
EUR/USD levels to watch
As of writing, the pair is losing 0.28% at 1.3026 and a breakdown of 1.3004 (low Jul.1) would target 1.2991 (low Jun.28) en route to 1.2985 (low Jun.26). On the flip side, resistance levels align at 1.3103 (high Jun.28) ahead of 1.3115 (MA30d) and finally 1.3151 (high Jun.25).