Back
17 Jul 2013
EUR/USD retreats from highs, Bernanke eyed
FXstreet.com (Edinburgh) -The shared currency is now losing some momentum, with the EUR/USD easing from highs above 1.3160 to the current region of 1.3140/45.
EUR/USD looking to break the range
The pair has been meandering between 1.3120 and 1.3160 as markets head towards the key event of the week: Bernanke’s semi-annual testimony. “Now that USD positions have been shortened there is less potential upside in EUR/USD following Bernanke remarks this afternoon”, commented Jane Foley, Strategist at Rabobank.
EUR/USD critical levels
The pair is now losing 0.09% at 1.3150 with the next resistance at 1.3174 (high Jul.16) followed by 1.3208 (high Jul.11) and then 1.3255 (high Jun.21). On the flip side, a breach below 1.3122 (MA30d) would bring 1.3100 (psychological level) and finally 1.3078 (MA200d).
EUR/USD looking to break the range
The pair has been meandering between 1.3120 and 1.3160 as markets head towards the key event of the week: Bernanke’s semi-annual testimony. “Now that USD positions have been shortened there is less potential upside in EUR/USD following Bernanke remarks this afternoon”, commented Jane Foley, Strategist at Rabobank.
EUR/USD critical levels
The pair is now losing 0.09% at 1.3150 with the next resistance at 1.3174 (high Jul.16) followed by 1.3208 (high Jul.11) and then 1.3255 (high Jun.21). On the flip side, a breach below 1.3122 (MA30d) would bring 1.3100 (psychological level) and finally 1.3078 (MA200d).