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12 Aug 2013
EUR/USD flat around 1.3330
FXstreet.com (Edinburgh) -The single currency is posting meagre gains on Monday, with the EUR/USD trading in a narrow range around 1.3325/30.
EUR/USD capped by 1.3400
After briefly hitting the key 1.3400 handle last week, the pair initiated a correction lower to the current region of 1.3330, as the very light calendar plus the summer lull is weighing on markets. “Increased EUR exposure was the largest adjustment by value, and was the biggest contributor to the further shrinking of the implied USD long position. As of Tuesday, net long USD exposure stood at USD 20.5 bn, down from USD23.5 bn”, commented analysts at TD Securities after the release of the last CFTC COT report.
EUR/USD levels to watch
The pair is now up 0.07% at 1.3331 with the next resistance at 1.3401 (high Aug.8) ahead of 1.3417 (high Jun.19) and finally 1.3456 (high Feb.14). On the flip side, a break below 1.3266 (low Aug.7) would expose 1.3246 (low Aug.6) and then 1.3233 (low Aug.5).
EUR/USD capped by 1.3400
After briefly hitting the key 1.3400 handle last week, the pair initiated a correction lower to the current region of 1.3330, as the very light calendar plus the summer lull is weighing on markets. “Increased EUR exposure was the largest adjustment by value, and was the biggest contributor to the further shrinking of the implied USD long position. As of Tuesday, net long USD exposure stood at USD 20.5 bn, down from USD23.5 bn”, commented analysts at TD Securities after the release of the last CFTC COT report.
EUR/USD levels to watch
The pair is now up 0.07% at 1.3331 with the next resistance at 1.3401 (high Aug.8) ahead of 1.3417 (high Jun.19) and finally 1.3456 (high Feb.14). On the flip side, a break below 1.3266 (low Aug.7) would expose 1.3246 (low Aug.6) and then 1.3233 (low Aug.5).