30 Jul 2013
EUR/USD in highs beyond 1.3270
FXstreet.com (Edinburgh) -The EUR/USD is hovering over the 1.3270/75 region on Monday, after better Spanish GDP data brought in some relief amongst traders.
EUR/USD paring Monday losses
The bloc currency is thus trimming yesterday’s losses after risk aversion seems to be taking a breather. The cautious tone in the markets looks set to prevail however, ahead of the FOMC gathering tomorrow, ECB meeting and Payrolls later on the week. “The absence of a strong trend signal on the medium term chart also steers us away from assuming a high conviction view of the EUR rally at this point. Rather, we think the medium-term range trade around 1.30/1.32 corridor will continue. We spot weekly resistance at 1.3410/15. Key support is 1.3070”, suggested analysts at TD Securities.
EUR/USD key levels
As of writing the pair is advancing 0.10% at 1.3276 with the next resistance at 1.3297 (high Ju.26) followed by 1.3302 (high Jun.20) and finally 1/3325 (low Jun.18). On the flip side, a breakdown of 1.3247 (low Jul.30) would target 1.3239 (low Jul.29) en route to 1.3208 (high Jul.11).
EUR/USD paring Monday losses
The bloc currency is thus trimming yesterday’s losses after risk aversion seems to be taking a breather. The cautious tone in the markets looks set to prevail however, ahead of the FOMC gathering tomorrow, ECB meeting and Payrolls later on the week. “The absence of a strong trend signal on the medium term chart also steers us away from assuming a high conviction view of the EUR rally at this point. Rather, we think the medium-term range trade around 1.30/1.32 corridor will continue. We spot weekly resistance at 1.3410/15. Key support is 1.3070”, suggested analysts at TD Securities.
EUR/USD key levels
As of writing the pair is advancing 0.10% at 1.3276 with the next resistance at 1.3297 (high Ju.26) followed by 1.3302 (high Jun.20) and finally 1/3325 (low Jun.18). On the flip side, a breakdown of 1.3247 (low Jul.30) would target 1.3239 (low Jul.29) en route to 1.3208 (high Jul.11).