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6 Aug 2013
EUR/USD testing lows around 1.3250
FXstreet.com (Edinburgh) -The single currency s navigating the lower end of today’s range, with the EUR/USD falling to sub 1.3250 levels ahead of German Factory Orders.
EUR/USD range-bound
The pair is extending its consolidation pattern between 1.3250-1.3270 on Tuesday, down from Monday’s highs in the boundaries of 1.3300 the figure. “The euro is likely to remain well supported for now as the ECB’s balance sheet continues to shrink as excess liquidity is removed”, commented analysts at BTMU. Looking ahead, German Factory Orders will be on focus while across the pond the US Trade Balance figures will be the main release.
EUR/USD levels to watch
At the moment the pair is down 0.01% at 1.3257 and a violation of 1.3200 (psychological level) would target 1.3188 (low Aug.2) en route to 1.3166 (low Jul.25). On the upside, resistance levels align at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and then 1.3417 (high Jun.19).
EUR/USD range-bound
The pair is extending its consolidation pattern between 1.3250-1.3270 on Tuesday, down from Monday’s highs in the boundaries of 1.3300 the figure. “The euro is likely to remain well supported for now as the ECB’s balance sheet continues to shrink as excess liquidity is removed”, commented analysts at BTMU. Looking ahead, German Factory Orders will be on focus while across the pond the US Trade Balance figures will be the main release.
EUR/USD levels to watch
At the moment the pair is down 0.01% at 1.3257 and a violation of 1.3200 (psychological level) would target 1.3188 (low Aug.2) en route to 1.3166 (low Jul.25). On the upside, resistance levels align at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and then 1.3417 (high Jun.19).