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15 Aug 2013
EUR/USD found bids around 1.3280
FXstreet.com (Edinburgh) -The correction from overnight peaks around 1.3310 found some bids in the vicinity of 1.3280 on Thursday, with the EUR/USD looking to consolidate below 1.3300 the figure now.
EUR/USD remains range-bound
The pair however remains resilient in the broader 1.3200-1.3400 range, as data and events seem to be insufficient to prompt a break either way. Lee Hardman, Currency Analyst at BTMU, assessed, “The improving cyclical economic momentum in Europe is also helping to keep the US dollar on the defensive in the near-term… The improving growth outlook is helping to lift euro-zone short rates and narrow the euro-zone sovereign credit risk premium supporting the euro”.
EUR/USD levels to watch
As of writing the pair is advancing 0.29% at 1.3293 facing the next hurdle at 1.3311 (high Aug.15) followed by 1.3317 (high Aug.13) and finally 1.334 (high Aug.12). On the flip side, a breakdown of 1.3239 (low Aug.14) would open the door to 1.3233 (low Aug.13) and then 1.3188 (low Aug.2).
EUR/USD remains range-bound
The pair however remains resilient in the broader 1.3200-1.3400 range, as data and events seem to be insufficient to prompt a break either way. Lee Hardman, Currency Analyst at BTMU, assessed, “The improving cyclical economic momentum in Europe is also helping to keep the US dollar on the defensive in the near-term… The improving growth outlook is helping to lift euro-zone short rates and narrow the euro-zone sovereign credit risk premium supporting the euro”.
EUR/USD levels to watch
As of writing the pair is advancing 0.29% at 1.3293 facing the next hurdle at 1.3311 (high Aug.15) followed by 1.3317 (high Aug.13) and finally 1.334 (high Aug.12). On the flip side, a breakdown of 1.3239 (low Aug.14) would open the door to 1.3233 (low Aug.13) and then 1.3188 (low Aug.2).