3 Jul 2013
EUR/USD trading above 1.3000 level
FXstreet.com (New York) - The EUR/USD foreign exchange rate rebounded off an earlier trough that threatened to break below the 1.2900 level, culminating in a gradual recovery Wednesday.
EUR/USD nears resistance
At the time of writing, the EUR/USD pair is operating at 1.3011, securing a gain of +0.26% during US trading. The Danske Research Team points to resistances at 1.3014, then 1.3040, and finally 1.3072.
EUR/USD trading below 1.2970 could extend downside move
“The EUR/USD managed to achieve a four-hour closing below 1.2970. Prolonged stability below the referred to level could extend the downside move; but to support this negative outlook, the pair has to break 1.2920 levels.” notes the Technical Analyst Team at ICN.com.
EUR/USD nears resistance
At the time of writing, the EUR/USD pair is operating at 1.3011, securing a gain of +0.26% during US trading. The Danske Research Team points to resistances at 1.3014, then 1.3040, and finally 1.3072.
EUR/USD trading below 1.2970 could extend downside move
“The EUR/USD managed to achieve a four-hour closing below 1.2970. Prolonged stability below the referred to level could extend the downside move; but to support this negative outlook, the pair has to break 1.2920 levels.” notes the Technical Analyst Team at ICN.com.