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7 May 2013
Forex: EUR/USD settles below 1.3100
FXstreet.com (Córdoba) - The euro failed to sustain gains versus the greenback during the American session as risk appetite deteriorated amid a mix of news including reports of explosions in Iran.
EUR/USD dropped back below 1.3100 toward the 1.3070 area, erasing gains and turning flat for the day, after being rejected from a high of 1.3131. At time of writing, EUR/USD is trading around 1.3085, just a few pips above its opening price.
If the euro continues to weaken, immediate supports could be found at 1.3067 (daily low) and 1.3052 (low May 6) ahead of 1.3033 (low May 3). On the flip side, resistances are seen at 1.3131 (daily high), 1.3160 (high May 3) and then 1.3200 (psychological level).
EUR/USD dropped back below 1.3100 toward the 1.3070 area, erasing gains and turning flat for the day, after being rejected from a high of 1.3131. At time of writing, EUR/USD is trading around 1.3085, just a few pips above its opening price.
If the euro continues to weaken, immediate supports could be found at 1.3067 (daily low) and 1.3052 (low May 6) ahead of 1.3033 (low May 3). On the flip side, resistances are seen at 1.3131 (daily high), 1.3160 (high May 3) and then 1.3200 (psychological level).