26 Jul 2013
EUR/USD rebounds from 1.3260
FXstreet.com (Edinburgh) -The shared currency found buying interest in the vicinity of session lows around 1.3260, lifting the EUR/USD back to the 1.3275/80 region.
EUR/USD remains range-bound
The pair keeps the intraday range nonetheless, extending the consolidation pattern below the key resistance at 1.3300 the figure ahead of the key week ahead. Eric Theoret, Strategist at Scotiabank, argued that the technicals remain bullish in the short-term, adding, “EUR continues to reach new near-term highs, as momentum and trend indicators remain supportive of strength. Near term support is expected at the 9 day MA (1.3188), and the trend channel from mid-July suggests resistance at 1.3320”.
EUR/USD levels to watch
The pair is losing 0.02% at 1.3275 at the moment, with the next support at 1.3200 (psychological level) followed by 1.3182 (cloud top) and finally 1.3178 (MA10d). On the upside, a breakout of 1.3302 (high Jun.20) would open the door to 1.3325 (low Jun.18) and then 1.3417 (high Jun.19).
EUR/USD remains range-bound
The pair keeps the intraday range nonetheless, extending the consolidation pattern below the key resistance at 1.3300 the figure ahead of the key week ahead. Eric Theoret, Strategist at Scotiabank, argued that the technicals remain bullish in the short-term, adding, “EUR continues to reach new near-term highs, as momentum and trend indicators remain supportive of strength. Near term support is expected at the 9 day MA (1.3188), and the trend channel from mid-July suggests resistance at 1.3320”.
EUR/USD levels to watch
The pair is losing 0.02% at 1.3275 at the moment, with the next support at 1.3200 (psychological level) followed by 1.3182 (cloud top) and finally 1.3178 (MA10d). On the upside, a breakout of 1.3302 (high Jun.20) would open the door to 1.3325 (low Jun.18) and then 1.3417 (high Jun.19).