Back
12 Aug 2013
EUR/USD bounces off 1.3290
FXstreet.com (Edinburgh) -Renewed bid tone surrounding the shared currency is pushing the EUR/USD to another attempt to regain the 1.3300 handle on Monday.
EUR/USD supported around 1.3290
After dropping to the area of 1.3290, a new wave of buying interest is pushing the pair towards 1.3300 the figure, as the risk-off trade is taking a breather. “There is no obvious sign of a reversal in the weekly chart but a doji signal last week and a lack of significant follow-through on the topside this week underscores the risk of a reversion to the broader range. A sustained move through 1.3410/15 targets a return to 1.37”, commented analysts at TD Securities.
EUR/USD relevant levels
As of writing the pair is losing 0.15% at 1.3300 and a breakdown of 1.3266 (low Aug.7) would open the door to 1.3246 (low Aug.6) and then 1.3233 (low Aug.5). On the upside, the initial resistance aligns at 1.3401 (high Aug.8) ahead of 1.3417 (high Jun.19) and finally 1.3456 (high Feb.14).
EUR/USD supported around 1.3290
After dropping to the area of 1.3290, a new wave of buying interest is pushing the pair towards 1.3300 the figure, as the risk-off trade is taking a breather. “There is no obvious sign of a reversal in the weekly chart but a doji signal last week and a lack of significant follow-through on the topside this week underscores the risk of a reversion to the broader range. A sustained move through 1.3410/15 targets a return to 1.37”, commented analysts at TD Securities.
EUR/USD relevant levels
As of writing the pair is losing 0.15% at 1.3300 and a breakdown of 1.3266 (low Aug.7) would open the door to 1.3246 (low Aug.6) and then 1.3233 (low Aug.5). On the upside, the initial resistance aligns at 1.3401 (high Aug.8) ahead of 1.3417 (high Jun.19) and finally 1.3456 (high Feb.14).