29 Jul 2013
EUR/USD recovers the 1.3270 mark
FXstreet.com (New York) - The EUR/USD foreign exchange rate continued its recovery Monday, eliminating its losses gradually throughout US trading.
At the time of writing however, the EUR/USD has managed to move up towards the 1.3269 level, still presently down -0.15% off its opening however. Technically speaking, the EUR/USD is trading near the 1.3262 support, and a fall lower will be insulated by additional means at 1.3236, ahead of 1.3218, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the Sean Callow, a Global FX Strategist at Westpac, ““The EUR/USD seems primed for a grind towards widely watched 1.3400 resistance, with better Eurozone PMIs keeping the doves in their coop at Thursday's ECB meeting – lukewarm US mood also helps in sluggish northern summer markets.”
At the time of writing however, the EUR/USD has managed to move up towards the 1.3269 level, still presently down -0.15% off its opening however. Technically speaking, the EUR/USD is trading near the 1.3262 support, and a fall lower will be insulated by additional means at 1.3236, ahead of 1.3218, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the Sean Callow, a Global FX Strategist at Westpac, ““The EUR/USD seems primed for a grind towards widely watched 1.3400 resistance, with better Eurozone PMIs keeping the doves in their coop at Thursday's ECB meeting – lukewarm US mood also helps in sluggish northern summer markets.”