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16 Aug 2013
EUR/USD and a futile bounce to 1.3330
FXstreet.com (Edinburgh) -The EUR/USD woke up and is attempting a rebound from lows below 1.3320 to the area around 1.3330 in an effort to revert the weekly negative trend.
EUR/USD capped by 1.3400
On a weekly basis, the pair continues to meander within the broader 1.2800-1.3400 range, although it seems that any bull run lacks the vigour to follow through the critical 1.3400/20 resistance band. In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, the technical studies are bullish in the short-term, adding “signals on EUR are far from clear and with spot trading up to the near the top of its range we remain cautious. Support lies at 1.300 followed by yesterday’s open at 1.3255 while resistance lies at the August high of 1.3400”.
EUR/USD relevant levels
At the moment the pair is retreating 0.09% at 1.3331 and a breach of 1.3188 (low Aug.2) would target 1.3179 (MA30d) en route to 1.3164 (low Jul.23). On the flip side, resistance levels are located at 1.3391 (high Aug.9) ahead of 1.3401 (high Aug.8) and then 1.3417 (high Jun.19).
EUR/USD capped by 1.3400
On a weekly basis, the pair continues to meander within the broader 1.2800-1.3400 range, although it seems that any bull run lacks the vigour to follow through the critical 1.3400/20 resistance band. In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, the technical studies are bullish in the short-term, adding “signals on EUR are far from clear and with spot trading up to the near the top of its range we remain cautious. Support lies at 1.300 followed by yesterday’s open at 1.3255 while resistance lies at the August high of 1.3400”.
EUR/USD relevant levels
At the moment the pair is retreating 0.09% at 1.3331 and a breach of 1.3188 (low Aug.2) would target 1.3179 (MA30d) en route to 1.3164 (low Jul.23). On the flip side, resistance levels are located at 1.3391 (high Aug.9) ahead of 1.3401 (high Aug.8) and then 1.3417 (high Jun.19).