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14 Aug 2013
EUR/USD back to 1.3250
FXstreet.com (Edinburgh) -The bloc currency remains unable to pick up pace and head higher, with the EUR/USD being once again rejected from the 1.3265/70 region.
EUR/USD keeps the range
The pair keeps meandering within the broader 1.3200-1.3400 range so far, still searching for any catalyst that can break the pattern either way, although this week seems to be favouring the greenback. Stoyan Mihaylov, Strategist at DeltaStock.com, commented “Yesterday's minor corrective pattern has been limited to 1.3316 and the renewal of the downtrend broke through the dynamic support projection at 1.3278, reaching a temporary low at 1.3231. My outlook is bearish below 1.3280 intraday resistance, for another slide towards 1.3160 support area. Crucial on the upside is 1.3316 high”.
EUR/USD key levels
At the moment the pair is down 0.06% at 1.3257 and a breach of 1.3233 (low Aug.5) would aim for 1.3200 (psychological level) and finally 1.3188 (low Aug.2). On the upside, the initial barrier lines up at 1.3295 (MA10d) followed by 1.3317 (high Aug.13) and then 1.3345 (high Aug.12).
EUR/USD keeps the range
The pair keeps meandering within the broader 1.3200-1.3400 range so far, still searching for any catalyst that can break the pattern either way, although this week seems to be favouring the greenback. Stoyan Mihaylov, Strategist at DeltaStock.com, commented “Yesterday's minor corrective pattern has been limited to 1.3316 and the renewal of the downtrend broke through the dynamic support projection at 1.3278, reaching a temporary low at 1.3231. My outlook is bearish below 1.3280 intraday resistance, for another slide towards 1.3160 support area. Crucial on the upside is 1.3316 high”.
EUR/USD key levels
At the moment the pair is down 0.06% at 1.3257 and a breach of 1.3233 (low Aug.5) would aim for 1.3200 (psychological level) and finally 1.3188 (low Aug.2). On the upside, the initial barrier lines up at 1.3295 (MA10d) followed by 1.3317 (high Aug.13) and then 1.3345 (high Aug.12).