Back
19 Aug 2013
EUR/USD upside faded, back around 1.3340
FXstreet.com (Edinburgh) - The EUR/USD is now parked around 1.3340/45 as markets enter the last part of the US session on Monday.
EUR/USD same again tomorrow?
Tuesday’s docket in the euro area is ages away from interesting, let alone some kind of market mover in either direction, as fireworks meant to show up on Wednesday with the release of the FOMC minutes. Despite today’s spike to the 1.3380 region, the short-term technical perspective remains mixed according to Camilla Sutton, Chief FX Strategist at Scotiabank. The expert also added, “signals are weak and providing limited directional cues as EUR rallies close to its June highs of 1.3417. It is a sign of caution to us that spot is rallying but technical studies are failing to turn more bullish. From our perspective EUR remains within a range and will struggle to break substantially and sustainably above 1.3417”.
EUR/USD levels to watch
As of writing the pair is up 0.06% at 1.3344 and a breakout of 1.3401 (high Aug.8) would target 1.3417 (high Jun.19) en route to 1.3456 (high Feb.14). On the downside, support levels align at 1.3261 (low Aug.19) followed by 1.3222 (weekly cloud top) and finally 1.3212 MA30d).
EUR/USD same again tomorrow?
Tuesday’s docket in the euro area is ages away from interesting, let alone some kind of market mover in either direction, as fireworks meant to show up on Wednesday with the release of the FOMC minutes. Despite today’s spike to the 1.3380 region, the short-term technical perspective remains mixed according to Camilla Sutton, Chief FX Strategist at Scotiabank. The expert also added, “signals are weak and providing limited directional cues as EUR rallies close to its June highs of 1.3417. It is a sign of caution to us that spot is rallying but technical studies are failing to turn more bullish. From our perspective EUR remains within a range and will struggle to break substantially and sustainably above 1.3417”.
EUR/USD levels to watch
As of writing the pair is up 0.06% at 1.3344 and a breakout of 1.3401 (high Aug.8) would target 1.3417 (high Jun.19) en route to 1.3456 (high Feb.14). On the downside, support levels align at 1.3261 (low Aug.19) followed by 1.3222 (weekly cloud top) and finally 1.3212 MA30d).