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2 Aug 2013
EUR/USD treading water around 1.3280
FXstreet.com (Edinburgh) -The bloc currency remains in the upper end of the intraday range so far, with the EUR/USD catapulted to the vicinity of 1.3300 the figure after the poor data from the US labour market.
EUR/USD netting a flat week
After three consecutive weeks of advances, the pair is now closing the present week almost unchanged. The key resistance at 1.3300 remains a tough barrier, as traders could not push for a close above it, leaving the very short-term mixed ahead of next week’s events. Sebastien Galy, Strategist at Societe Generale, commented, “EUR/USD is still moving higher as the Fed wins the battle of the balance sheets. However, as we head into September, the Fed tapering theme should make a comeback strengthening the USD”.
EUR/USD key levels
As of writing the pair is up 0.54% at 1.3279 with the next resistance at 1.3311 (high Aug.1) ahead of 1.3345 (high Jul.31) and then 1.3417 (high Jun.19). On the downside, a break below
1.3255 (Tenak line) would target 1.3166 (low Jul.25) would expose 1.3164 (low Jul.23). On the upside, resistance levels align at
EUR/USD netting a flat week
After three consecutive weeks of advances, the pair is now closing the present week almost unchanged. The key resistance at 1.3300 remains a tough barrier, as traders could not push for a close above it, leaving the very short-term mixed ahead of next week’s events. Sebastien Galy, Strategist at Societe Generale, commented, “EUR/USD is still moving higher as the Fed wins the battle of the balance sheets. However, as we head into September, the Fed tapering theme should make a comeback strengthening the USD”.
EUR/USD key levels
As of writing the pair is up 0.54% at 1.3279 with the next resistance at 1.3311 (high Aug.1) ahead of 1.3345 (high Jul.31) and then 1.3417 (high Jun.19). On the downside, a break below
1.3255 (Tenak line) would target 1.3166 (low Jul.25) would expose 1.3164 (low Jul.23). On the upside, resistance levels align at