26 Jul 2013
EUR/USD keeps lows below 1.3270
FXstreet.com (Edinburgh) -The euro continues to trade in the lower end of today’s range so far, with the EUR/USD meandering around 1.3265/70 ahead of the Reuter/Michigan index.
EUR/USD capped by 1.3300
The area beyond 1.3300 the figure remains unvisited for the pair so far, with no so few analysts expecting a correction lower from the current levels. However, the current weakness around the USD and the mixed tone from Bernanke’s successor and the Fed’s tapering will surely dictate the next moves of the pair. In the opinion of analysts at TD Securities, “EUR/USD continues to look rich to us at these levels, but we can’t rule out a further modest extension. The next key resistance is spotted near 1.3330/50. We prefer selling rallies toward that area”.
EUR/USD levels to watch
The pair is losing 0.10% at 1.3264 at the moment, with the next support at 1.3200 (psychological level) followed by 1.3182 (cloud top) and finally 1.3178 (MA10d). On the upside, a breakout of 1.3302 (high Jun.20) would open the door to 1.3325 (low Jun.18) and then 1.3417 (high Jun.19).
EUR/USD capped by 1.3300
The area beyond 1.3300 the figure remains unvisited for the pair so far, with no so few analysts expecting a correction lower from the current levels. However, the current weakness around the USD and the mixed tone from Bernanke’s successor and the Fed’s tapering will surely dictate the next moves of the pair. In the opinion of analysts at TD Securities, “EUR/USD continues to look rich to us at these levels, but we can’t rule out a further modest extension. The next key resistance is spotted near 1.3330/50. We prefer selling rallies toward that area”.
EUR/USD levels to watch
The pair is losing 0.10% at 1.3264 at the moment, with the next support at 1.3200 (psychological level) followed by 1.3182 (cloud top) and finally 1.3178 (MA10d). On the upside, a breakout of 1.3302 (high Jun.20) would open the door to 1.3325 (low Jun.18) and then 1.3417 (high Jun.19).