10 Jun 2013
EUR/USD falls to retest daily lows
FXstreet.com (Córdoba) - The EUR/USD is starting to feel pressure at the beginning of the New York session, as the greenback picks up momentum.
EUR/USD has spent most of the day in a slim range around 1.3200, and having failed twice to break above the 1.3230 level, the pair turned back south on track to retest daily lows at the 1.3175/80 area.
From a technical perspective, "A break below 1.3170 may expose the downside in the short term, although price needs to close 100 pips lower to reverse the bullish tone and be in risk of more slides", says Valeria Bednarik, chief analyst at FXstreet.com.
At time of writing, EUR/USD is trading around 1.3190, where it is virtually unchanged since opening. Bednarik locates immediate supports at 1.3180, 1.3140 and 1.3100, while she sees resistances at 1.3245, 1.3300 and 1.3345.
EUR/USD has spent most of the day in a slim range around 1.3200, and having failed twice to break above the 1.3230 level, the pair turned back south on track to retest daily lows at the 1.3175/80 area.
From a technical perspective, "A break below 1.3170 may expose the downside in the short term, although price needs to close 100 pips lower to reverse the bullish tone and be in risk of more slides", says Valeria Bednarik, chief analyst at FXstreet.com.
At time of writing, EUR/USD is trading around 1.3190, where it is virtually unchanged since opening. Bednarik locates immediate supports at 1.3180, 1.3140 and 1.3100, while she sees resistances at 1.3245, 1.3300 and 1.3345.