26 Jul 2013
EUR/USD dips to lows around 1.3260
FXstreet.com (Edinburgh) -The shared currency is now losing grip, dragging the EUR/USD to test fresh intraday lows in the vicinity of 1.3260 on Friday.
EUR/USD focused on the ECB
Markets continue to trade against a backdrop of thin volume, ahead of the Reuters/Michigan index due later in the US economy. The next big risk event for the bloc currency will be the ECB meeting ahead of Friday’s US Non farm Payrolls. Analysts at BAML commented “A positive surprise from this meeting could be a decision to publish minutes, which would increase transparency by shedding light on the views of Governing Council Members, whose communication with the public varies widely… We see no impact on rates and only small upside Euro risks from the meeting, with the market impact depending mostly on the tone of the press conference”.
EUR/USD levels to watch
The pair is losing 0.07% at 1.3267 at the moment, with the next support at 1.3200 (psychological level) followed by 1.3182 (cloud top) and finally 1.3178 (MA10d). On the upside, a breakout of 1.3302 (high Jun.20) would open the door to 1.3325 (low Jun.18) and then 1.3417 (high Jun.19).
EUR/USD focused on the ECB
Markets continue to trade against a backdrop of thin volume, ahead of the Reuters/Michigan index due later in the US economy. The next big risk event for the bloc currency will be the ECB meeting ahead of Friday’s US Non farm Payrolls. Analysts at BAML commented “A positive surprise from this meeting could be a decision to publish minutes, which would increase transparency by shedding light on the views of Governing Council Members, whose communication with the public varies widely… We see no impact on rates and only small upside Euro risks from the meeting, with the market impact depending mostly on the tone of the press conference”.
EUR/USD levels to watch
The pair is losing 0.07% at 1.3267 at the moment, with the next support at 1.3200 (psychological level) followed by 1.3182 (cloud top) and finally 1.3178 (MA10d). On the upside, a breakout of 1.3302 (high Jun.20) would open the door to 1.3325 (low Jun.18) and then 1.3417 (high Jun.19).