10 Jun 2013
EUR/USD in highs above 1.3240
FXstreet.com (Barcelona) - The EUR/USD is quickly piking up pace in the European evening, as a bout of buying interest is lifting the pair to fresh intraday highs in the area of 1.3240/45.
Camilla Sutton, Strategist at Scotiabank, remains bullish on the pair, adding, “all signals remain in buy territory; spot looks weak; however until there is a break back below Thursday’s open of 1.3093, signals suggest that the greater risk is more EUR upside. Resistance lies at Thursday’s high of 1.3306. For near‐term traders, we expect EUR remains within a 1.3075 to 1.3306 range for he next few sessions”. It is worth noting that the bank holds a year-end target of 1.25 for the pair.
EUR/USD is now advancing 0.31% at 1.3234 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).
Camilla Sutton, Strategist at Scotiabank, remains bullish on the pair, adding, “all signals remain in buy territory; spot looks weak; however until there is a break back below Thursday’s open of 1.3093, signals suggest that the greater risk is more EUR upside. Resistance lies at Thursday’s high of 1.3306. For near‐term traders, we expect EUR remains within a 1.3075 to 1.3306 range for he next few sessions”. It is worth noting that the bank holds a year-end target of 1.25 for the pair.
EUR/USD is now advancing 0.31% at 1.3234 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).