10 Dec 2013
EUR/USD bounces off 1.3740
FXstreet.com (Edinburgh) - The shared currency managed to bounce off session lows in the boundaries of 1.3740, lifting the EUR/USD back to the 1.3755/60 region so far.
EUR/USD looks to break above 1.3760
The pair still remains locked within the 1.3740/60 range despite the risk-on context, as thin trade prevails due to the lack of data in both the EMU and US. “After Draghi’s speech, today’s calendar quiets down significantly. That could see some range trading in the coming hours, although as mentioned the prevailing winds are still higher. On the charts, the is some minor bull channel resistance spotted near 1.3770/80, ahead of the more significant 1.3830”, suggested analysts at TD Securities.
EUR/USD levels to watch
As of writing the pair is up 0.10% at 1.3755 with the next resistance at 1.3787 (high Oct.30) ahead of 1.3818 (high Oct.28) and finally 1.3833 (high Oct.25). On the flip side, a breakdown of 1.3695 (low Dec.9) would open the door to 1.3638 (daily cloud top) and then 1.3620 (low Dec.6).
EUR/USD looks to break above 1.3760
The pair still remains locked within the 1.3740/60 range despite the risk-on context, as thin trade prevails due to the lack of data in both the EMU and US. “After Draghi’s speech, today’s calendar quiets down significantly. That could see some range trading in the coming hours, although as mentioned the prevailing winds are still higher. On the charts, the is some minor bull channel resistance spotted near 1.3770/80, ahead of the more significant 1.3830”, suggested analysts at TD Securities.
EUR/USD levels to watch
As of writing the pair is up 0.10% at 1.3755 with the next resistance at 1.3787 (high Oct.30) ahead of 1.3818 (high Oct.28) and finally 1.3833 (high Oct.25). On the flip side, a breakdown of 1.3695 (low Dec.9) would open the door to 1.3638 (daily cloud top) and then 1.3620 (low Dec.6).