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15 Jul 2013
EUR/USD pierces 1.3000
FXstreet.com (Edinburgh) -The bearish sentiment surrounding the euro is now accelerating, pushing the EUR/USD to challenge the critical support at 1.3000 on Monday and print fresh session lows.
EUR/USD decline accelerates
The pair continues to trim last week’s post-Bernanke gains, falling since levels just above 1.3200 the figure to the current test of the psychological mark at 1.3000. “In broad terms, we think the Fed’s cautious move towards policy normalization should keep the big dollar well supported against its major currency peers”, suggested G.Moore and S.Osborne, FX Strategists at TD Securities.
EUR/USD relevant levels
The pair is now falling 0.41% at 1.3024 and a dip beyond 1.2982 (50% Fibo) would target 1.2966 (low Jul.11) en route to 1.2949 (high Jul.10). 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 decline accelerates
The pair continues to trim last week’s post-Bernanke gains, falling since levels just above 1.3200 the figure to the current test of the psychological mark at 1.3000. “In broad terms, we think the Fed’s cautious move towards policy normalization should keep the big dollar well supported against its major currency peers”, suggested G.Moore and S.Osborne, FX Strategists at TD Securities.
EUR/USD relevant levels
The pair is now falling 0.41% at 1.3024 and a dip beyond 1.2982 (50% Fibo) would target 1.2966 (low Jul.11) en route to 1.2949 (high Jul.10). On the upside, resistance levels align at 1.3100 (high Jul.12) ahead of 1.3118 (MA30d) and then 1.3208 (high Jul.11).