24 Jul 2013
EUR/USD back to positive around 1.3240
FXstreet.com (Edinburgh) -After testing the boundaries of 1.3200 the figure on better US housing data, the EUR/USD managed to pick up pace and trade back to the positive territory, hovering over 1.3240.
EUR/USD upside intact
The EUR rally continues to retrace the pronounced pullback from mid-June however, dropping from levels above 1.3400 to the area near ytd lows around the mid 1.27s. Bernanke and Co. did the rest, sparking a 3-week upside so far, which found extra fuel in the extreme USD positioning and pretty decent data from the euro area. “The outlook remains bullish, for a rise towards 1.3310 reversal area. Key support on the downside remains projected at 1.3160”, suggested Stoyan Mihaylov, Analyst at DeltaStock.com.
EUR/USD levels to watch
At the moment the pair is advancing 0.05% at 1.3231 with the next hurdle at 1.3255 (high Jun.21) ahead of 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, a break below 1.3190 (low Jul.24) would open the door to 1.3164 (low Jul.23) and then 1.3115 (low Jul.22).
EUR/USD upside intact
The EUR rally continues to retrace the pronounced pullback from mid-June however, dropping from levels above 1.3400 to the area near ytd lows around the mid 1.27s. Bernanke and Co. did the rest, sparking a 3-week upside so far, which found extra fuel in the extreme USD positioning and pretty decent data from the euro area. “The outlook remains bullish, for a rise towards 1.3310 reversal area. Key support on the downside remains projected at 1.3160”, suggested Stoyan Mihaylov, Analyst at DeltaStock.com.
EUR/USD levels to watch
At the moment the pair is advancing 0.05% at 1.3231 with the next hurdle at 1.3255 (high Jun.21) ahead of 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, a break below 1.3190 (low Jul.24) would open the door to 1.3164 (low Jul.23) and then 1.3115 (low Jul.22).