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25 Jun 2013
EUR/USD retakes 1.3100
Fxstreet.com (Edinburgh) - The EUR/USD managed to leave today’s lows in the proximities of 1.3060 post-US data and to retake 1.3100 the figure.
EUR/USD remains propped up by the 200-day ma
Despite the USD strength, the euro remains well supported by the 200-day moving average around 1.3070/80, limiting the downside so far. In the opinion of Camilla Sutton, Strategist at Scotiabank, the technical studies remain mixed although shifting to bearish. “Entering the NA session EUR’s candlestick are warning of indecision, having had two sessions of dojis in a row. Support is significant just below current levels, where the 50‐day MA, 100‐day and 200‐day all converge (1.3080, 1.3082 and 1.3074). A break below here would accelerate selling pressure. We expect EUR to weaken, looking for a test down to 1.30”, suggested Sutton.
EUR/USD tech levels
At the moment, the pair is retreating 0.23% at 1.3089 with the next support at 1.3059 (low Jun.24) followed by 1.3053 (low Jun.5) and then 1.3043 (low Jun.4). On the flip side, a breakout of 1.3151 (high Jun.25) would expose 1.3161 (low Jun.20) and finally 1.3177 (low Jun.10).
EUR/USD remains propped up by the 200-day ma
Despite the USD strength, the euro remains well supported by the 200-day moving average around 1.3070/80, limiting the downside so far. In the opinion of Camilla Sutton, Strategist at Scotiabank, the technical studies remain mixed although shifting to bearish. “Entering the NA session EUR’s candlestick are warning of indecision, having had two sessions of dojis in a row. Support is significant just below current levels, where the 50‐day MA, 100‐day and 200‐day all converge (1.3080, 1.3082 and 1.3074). A break below here would accelerate selling pressure. We expect EUR to weaken, looking for a test down to 1.30”, suggested Sutton.
EUR/USD tech levels
At the moment, the pair is retreating 0.23% at 1.3089 with the next support at 1.3059 (low Jun.24) followed by 1.3053 (low Jun.5) and then 1.3043 (low Jun.4). On the flip side, a breakout of 1.3151 (high Jun.25) would expose 1.3161 (low Jun.20) and finally 1.3177 (low Jun.10).