7 Jun 2013
EUR/USD records third weekly gain in a row
FXstreet.com (Córdoba) - Following an impressive rally on Thursday and only a mild pullback after the NFP report, EUR/USD is set to close the week above 1.3200.
EUR/USD rallied to a high of 1.3304 in a week loaded with central banks and indicators, which lead to broad-based USD weakness. However, a strong NFP report today gave the US currency some respite, sending the pair briefly below 1.3200 during the NY session.
As the dust settled and the trading week approaches to an end, EUR/USD has steadied around 1.3220 where it is little changed on the day, but on track to record its third weekly gain in a row, this time for 1.7%.
From a technical view, "the next area of price resistance now awaits overhead, extending from 1.33 through to 1.3425 and provided we see a continuation of recent bullish price action coupled with strong buying we should see the eurodollar move to 1.3450, and possibly even 1.35 and beyond", says Anna Couling, analyst at Hawkeye.
EUR/USD rallied to a high of 1.3304 in a week loaded with central banks and indicators, which lead to broad-based USD weakness. However, a strong NFP report today gave the US currency some respite, sending the pair briefly below 1.3200 during the NY session.
As the dust settled and the trading week approaches to an end, EUR/USD has steadied around 1.3220 where it is little changed on the day, but on track to record its third weekly gain in a row, this time for 1.7%.
From a technical view, "the next area of price resistance now awaits overhead, extending from 1.33 through to 1.3425 and provided we see a continuation of recent bullish price action coupled with strong buying we should see the eurodollar move to 1.3450, and possibly even 1.35 and beyond", says Anna Couling, analyst at Hawkeye.