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11 Jun 2013
EUR/USD eases to 1.3270/75
FXstreet.com (Barcelona) - The EUR/USD is now losing some momentum following another rejection from the key resistance at 1.3300 on Tuesday, as markets keep their focus on the German Court.
EUR/USD to remain range-bound
Despite the USD is picking up pace, the shared currency is managing quite well to keep the range. The absence of a docket in both EMU and the US would be supportive of the EUR/USD as well. “We still favour a lower EUR in the months ahead although we look for a stronger sell signals before jumping more heavily into the bearish camp”, noted G.Moore and S.Osborne, FX Strategists at TD Securities.
Key barriers to focus on
At the moment, the pair is up 0.09% at 1.3271 with the next resistance at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide). On a downside, a breach of 1.3177 (low Jun.10) would clear the way to 1.3121 9MA10d) and then 1.3103 (MA100d).
EUR/USD to remain range-bound
Despite the USD is picking up pace, the shared currency is managing quite well to keep the range. The absence of a docket in both EMU and the US would be supportive of the EUR/USD as well. “We still favour a lower EUR in the months ahead although we look for a stronger sell signals before jumping more heavily into the bearish camp”, noted G.Moore and S.Osborne, FX Strategists at TD Securities.
Key barriers to focus on
At the moment, the pair is up 0.09% at 1.3271 with the next resistance at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide). On a downside, a breach of 1.3177 (low Jun.10) would clear the way to 1.3121 9MA10d) and then 1.3103 (MA100d).