27 Jun 2013
EUR/USD challenging 1.3000
Fxstreet.com (Edinburgh) - The EUR/USD is now trading in the negative ground, threatening to penetrate the key limestone at 1.3000, as selling interest intensifies on Thursday.
EUR/USD gains remains limited
Positive data from today’s US docket revived the omnipresent Fed’s ‘tapering’ chatter, hurting the euro along with the rest of the risk-associated assets. According to Camilla Sutton, Strategist at Scotiabank, the near-term perspective on the pair remains bearish, as “all studies have shifted into sell territory on both a long and short term basis. The 100-day MA has crossed below the 200-day for the first time since October 2011, which foreshadowed the drop from 1.41 to 1.26 over the following 3 months. For near-term traders we expect a test down to 1.29”.
EUR/USD significant levels
At the moment the pair is losing 0.05% at 1.3004 and a breakdown of 1.2991 (Cloud top) would expose 1.2985 (low Jun.26) ahead of 1.2956 (low Jun.3). On the flip side, up-barriers are located at 1.3073 (MA200d) followed by 1.3087 (high Jun.26) and finally 1.3100 (psychological level).
EUR/USD gains remains limited
Positive data from today’s US docket revived the omnipresent Fed’s ‘tapering’ chatter, hurting the euro along with the rest of the risk-associated assets. According to Camilla Sutton, Strategist at Scotiabank, the near-term perspective on the pair remains bearish, as “all studies have shifted into sell territory on both a long and short term basis. The 100-day MA has crossed below the 200-day for the first time since October 2011, which foreshadowed the drop from 1.41 to 1.26 over the following 3 months. For near-term traders we expect a test down to 1.29”.
EUR/USD significant levels
At the moment the pair is losing 0.05% at 1.3004 and a breakdown of 1.2991 (Cloud top) would expose 1.2985 (low Jun.26) ahead of 1.2956 (low Jun.3). On the flip side, up-barriers are located at 1.3073 (MA200d) followed by 1.3087 (high Jun.26) and finally 1.3100 (psychological level).