11 Jul 2013
EUR/USD around 1.3050
FXstreet.com (Edinburgh) -The EUR/USD is now hovering hover the mid 1.30s on Thursday, as the celebration tone after Bernanke’s dovish speech seems to be dying off.
EUR/USD correction continues
Market participants are still gauging the last speech by Bernanke and the subsequent echo in the pair, as it now seems the any taper to QE would occur later than the September meeting. According to Dave Floyd, Analyst at Aspen Trading Group, “We might still see another modest push higher but the forecast remains clear: lower price levels towards 1.2514”.
EUR/USD key levels
As of writing the pair is up 0.61% at 1.3057 with the immediate hurdle at 1.3208 (high Jul.11) and then 1.3255 (high Jun.21). On the downside, a break below 1.2966 (low Jul.11) would open the door to 1.2949 (high Jul.10) and finally 1.2755 (low Jul.10).
EUR/USD correction continues
Market participants are still gauging the last speech by Bernanke and the subsequent echo in the pair, as it now seems the any taper to QE would occur later than the September meeting. According to Dave Floyd, Analyst at Aspen Trading Group, “We might still see another modest push higher but the forecast remains clear: lower price levels towards 1.2514”.
EUR/USD key levels
As of writing the pair is up 0.61% at 1.3057 with the immediate hurdle at 1.3208 (high Jul.11) and then 1.3255 (high Jun.21). On the downside, a break below 1.2966 (low Jul.11) would open the door to 1.2949 (high Jul.10) and finally 1.2755 (low Jul.10).