22 Jul 2013
EUR/USD keeps session highs
FXstreet.com (Edinburgh) -The shared currency keeps the good mood on Monday, driving the EUR/USD to the upper end of the range around 1.3160/70.
EUR/USD bounces off 1.3150
Earlier pullbacks saw the pair bouncing off 1.3150, where buying interest lifted the bloc currency to the current levels. According to Westpac Global Strategy Group, “It will take a lot of work to break the wide 1.2750/1.28 to 1.34 range. Our inclination is to sell the 1.33 handle as soft German data adds to concern over growth (note G20’s gloomier tone on EZ economy). But the Fed’s highly contingent tapering plan probably chips away at USD longs ahead of likely poor US GDP next week”.
EUR/USD key levels
As of writing the pair is up 0.13% at 1.3158 and a surpass of 1.3170 (high Jul.22) would target 1.3179 (high Jul.17) en route to 1.3208 (high Jul.11). On the flip side, support levels line up at 1.3115 (low Jul.22) ahead of 1.3093 (cloud base) and then 1.3089 (low Jul19).
EUR/USD bounces off 1.3150
Earlier pullbacks saw the pair bouncing off 1.3150, where buying interest lifted the bloc currency to the current levels. According to Westpac Global Strategy Group, “It will take a lot of work to break the wide 1.2750/1.28 to 1.34 range. Our inclination is to sell the 1.33 handle as soft German data adds to concern over growth (note G20’s gloomier tone on EZ economy). But the Fed’s highly contingent tapering plan probably chips away at USD longs ahead of likely poor US GDP next week”.
EUR/USD key levels
As of writing the pair is up 0.13% at 1.3158 and a surpass of 1.3170 (high Jul.22) would target 1.3179 (high Jul.17) en route to 1.3208 (high Jul.11). On the flip side, support levels line up at 1.3115 (low Jul.22) ahead of 1.3093 (cloud base) and then 1.3089 (low Jul19).