23 Jul 2013
EUR/USD trading at resistance near 1.3225
FXstreet.com (New York) - The EUR/USD foreign exchange rate has held onto the majority of its daily gains, despite easing slightly below its highs of 1.3240 Tuesday.
In these moments, the EUR/USD is still clinging to gains of +0.31% during the latter stages of US trading, now navigating the area of 1.3226. Technically speaking, the pair is testing calculated resistance at 1.3225, a break of which will open up additional measures of correction at 1.3258, onto 1.3297, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD moved slightly to the downside retesting around 61.8% correction at 1.3165 then rebounded to the upside. Stabilizing above the 1.3165 level forces us to keep our positive expectations, taking into consideration that breaking that level and stabilizing below it might trigger more correction affected by a negative signal shown on RSI.”
In these moments, the EUR/USD is still clinging to gains of +0.31% during the latter stages of US trading, now navigating the area of 1.3226. Technically speaking, the pair is testing calculated resistance at 1.3225, a break of which will open up additional measures of correction at 1.3258, onto 1.3297, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD moved slightly to the downside retesting around 61.8% correction at 1.3165 then rebounded to the upside. Stabilizing above the 1.3165 level forces us to keep our positive expectations, taking into consideration that breaking that level and stabilizing below it might trigger more correction affected by a negative signal shown on RSI.”