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12 Jul 2013
EUR/USD trades calm at 1.3065 after France's downgrade
FXstreet.com (San Francisco) - After a brief decline to 1.3030 from 1.3090 following the France rating downgrade, the EUR/USD has supported at this level with the pair trading back to 1.3065.
According to a press release, Fitch Ratings downgraded France to AA+ from AAA on Friday, keeping a stable outlook on the country's debt.
Currently, the EUR/USD is trading at 1.3055, 0.24% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the north while the MACD and the Stochastic are neutral.
Given the recent weakness below the 200-day SMA, the pair will now look to supports at 1.3036 (50-day SMA), followed by 1.3013 (July 11 low), and ultimately 1.2992 (July 4 low).
According to a press release, Fitch Ratings downgraded France to AA+ from AAA on Friday, keeping a stable outlook on the country's debt.
Currently, the EUR/USD is trading at 1.3055, 0.24% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the north while the MACD and the Stochastic are neutral.
Given the recent weakness below the 200-day SMA, the pair will now look to supports at 1.3036 (50-day SMA), followed by 1.3013 (July 11 low), and ultimately 1.2992 (July 4 low).