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15 Jul 2013
EUR/USD recovery capped by 1.3060
FXstreet.com (Edinburgh) -After bottoming out in sub 1.3000 levels, poor data from June’s US retail sales lifted the EUR/USD to the boundaries of 1.3060, although failing to follow through so far.
EUR/USD bolstered by US data
Mixed data from the US docket, with disappointing retail sales and strong reading from the Empire State index hurt the greenback, helping the pair to rebound from session lows. After France’s downgrade, politics in the bloc continue to be in the limelight, as Portugal officials set July 21st as a key day in order to bring in some sort of pact that can allay the increasing jitters and subsequent fears of contagion amongst euro zone members.
EUR/USD levels to watch
At the moment the pair is losing 0.25% at 1.3043 with the next support at 1.2982 (50% Fibo) followed by 1.2966 (low Jul.11) en route to 1.2949 (high Jul.10). On the upside, a surpass of 1.3086 (high Jul15) would expose 1.3100 (high Jul.12) and then 1.3118 (MA30d).
EUR/USD bolstered by US data
Mixed data from the US docket, with disappointing retail sales and strong reading from the Empire State index hurt the greenback, helping the pair to rebound from session lows. After France’s downgrade, politics in the bloc continue to be in the limelight, as Portugal officials set July 21st as a key day in order to bring in some sort of pact that can allay the increasing jitters and subsequent fears of contagion amongst euro zone members.
EUR/USD levels to watch
At the moment the pair is losing 0.25% at 1.3043 with the next support at 1.2982 (50% Fibo) followed by 1.2966 (low Jul.11) en route to 1.2949 (high Jul.10). On the upside, a surpass of 1.3086 (high Jul15) would expose 1.3100 (high Jul.12) and then 1.3118 (MA30d).