Back
15 Jul 2013
EUR/USD keeps falling, around 1.3020
FXstreet.com (Edinburgh) -The shared currency is intensifying its intraday decline, now pushing EUR/USD to another test of deeper lows to the area of 1.3020.
EUR/USD trimming gains post-Bernanke
After climbing just above 1.3200 the figure post Bernanke speech last week, the pair has been cashing up those gains, threatening now to challenge the psychological mark at 1.3000 any time soon as the weakness around the euro persists. According to strategists at Westpac, “the 1.32 handle is likely to remain a struggle. Portuguese political divisions continue to undermine sentiment while ongoing recession and low inflation keeps the pressure on the ECB. Sell rallies on the week though 1.2750/1.2800 should hold”.
EUR/USD relevant levels
The pair is now falling 0.42% at 1.3022 and a dip beyond 1.2999 (low Jul.12) would open the door to 1.2982 (50% Fibo) and finally 1.2966 (low Jul.11). On the upside, resistance levels align at 1.3100 (high Jul.12) ahead of 1.3118 (MA30d) and then 1.3208 (high Jul.11).
EUR/USD trimming gains post-Bernanke
After climbing just above 1.3200 the figure post Bernanke speech last week, the pair has been cashing up those gains, threatening now to challenge the psychological mark at 1.3000 any time soon as the weakness around the euro persists. According to strategists at Westpac, “the 1.32 handle is likely to remain a struggle. Portuguese political divisions continue to undermine sentiment while ongoing recession and low inflation keeps the pressure on the ECB. Sell rallies on the week though 1.2750/1.2800 should hold”.
EUR/USD relevant levels
The pair is now falling 0.42% at 1.3022 and a dip beyond 1.2999 (low Jul.12) would open the door to 1.2982 (50% Fibo) and finally 1.2966 (low Jul.11). On the upside, resistance levels align at 1.3100 (high Jul.12) ahead of 1.3118 (MA30d) and then 1.3208 (high Jul.11).