18 Jul 2013
EUR/USD testing highs around 1.3120
FXstreet.com (Barcelona) - The shared currency is trading on a better mood towards the end of the US session on Thursday, pushing the EUR/USD to another test of peaks around 1.3120.
EUR/USD paring losses
After bottoming near 1.3060 the pair managed to gather traction and climb to intraday peaks in the boundaries of 1.3120. In light of tomorrow’s euro docket, Producer Prices in Germany are due followed by Italian Industrial Orders/Sales and Spanish Trade Balance figures. “Over the medium term EUR has been stuck within broad trend this year (1.2746 to 1.3711), at 1.3100 today, it is trading at its average level this year, which highlights that EUR has lacked a trend all year”, commented Camilla Sutton, Strategist at Scotiabank.
EUR/USD levels to watch
At the moment the pair is retreating 0.32% at 1.3082 with the next support at 1.3078 (MA200d) followed by 1.3051 (low Jul.16) and finally 1.3036 (MA21d). On the upside, a break above 1.3179 (high Jul.17) would expose 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).
EUR/USD paring losses
After bottoming near 1.3060 the pair managed to gather traction and climb to intraday peaks in the boundaries of 1.3120. In light of tomorrow’s euro docket, Producer Prices in Germany are due followed by Italian Industrial Orders/Sales and Spanish Trade Balance figures. “Over the medium term EUR has been stuck within broad trend this year (1.2746 to 1.3711), at 1.3100 today, it is trading at its average level this year, which highlights that EUR has lacked a trend all year”, commented Camilla Sutton, Strategist at Scotiabank.
EUR/USD levels to watch
At the moment the pair is retreating 0.32% at 1.3082 with the next support at 1.3078 (MA200d) followed by 1.3051 (low Jul.16) and finally 1.3036 (MA21d). On the upside, a break above 1.3179 (high Jul.17) would expose 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).