19 Jul 2013
EUR/USD testing 1.3100
FXstreet.com (Edinburgh) -The selling interest surrounding the EUR/USD is now accelerating, dragging the pair to test the key support at 1.3100 on Friday.
EUR/USD weakness intensified
The pair is now on its way to test intraday lows posted overnight around 1.3090, extending its correction from session peaks around 1.3150. “After staging a massive 400-pip rally, EUR/USD is now consolidating heavily above the 1.3100 major psychological level. It has formed a bullish pennant, which is considered as a continuation pattern. If you have a bullish bias on the pair, it could be a good idea to jump in long when the pair breaks out of its consolidation”, suggested the team at BabyPips.com.
EUR/USD key levels
At the moment the pair is up 0.01% at 1.3108 with the next resistance at 1.3179 (high Jul.17) ahead of 1.3208 (high Jul.11) and finally 1.3255 (high Jun.21). On the downside, a breach of 1.3089 (low Jul.19) would expose 1.3065 (cloud base) and then 1.3051 (low Jul.16).
EUR/USD weakness intensified
The pair is now on its way to test intraday lows posted overnight around 1.3090, extending its correction from session peaks around 1.3150. “After staging a massive 400-pip rally, EUR/USD is now consolidating heavily above the 1.3100 major psychological level. It has formed a bullish pennant, which is considered as a continuation pattern. If you have a bullish bias on the pair, it could be a good idea to jump in long when the pair breaks out of its consolidation”, suggested the team at BabyPips.com.
EUR/USD key levels
At the moment the pair is up 0.01% at 1.3108 with the next resistance at 1.3179 (high Jul.17) ahead of 1.3208 (high Jul.11) and finally 1.3255 (high Jun.21). On the downside, a breach of 1.3089 (low Jul.19) would expose 1.3065 (cloud base) and then 1.3051 (low Jul.16).