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9 Aug 2013
EUR/USD holding positive territory
FXstreet.com (Barcelona) - EUR/USD remains steady above 1.3380 support.
EUR/USD has been a very lethargic play this morning while Eastern European names were selling on the open taking the pair lower and away form the 1.3400 handle. There has been some demand on the desks that has taken the pair back towards opening levels where further supply from European corporates came in to define this tight range.
EUR/USD to meet tough resistance 1.3417
EUR/USD “remains bid above the 1.3312 accelerated uptrend and only loss of last weeks low at 1.3188 will alleviate immediate upside pressure. Intraday charts are suggesting the 1.3417 high will be tested, but that it is likely to hold”, said Axel Rudolph, Senior Technical Analyst at Commerzbank. The 20 dma 1.3237, 50 dma 1.3166, 200 dma 1.3102. RSI (9) reads 68.06. Supports are ascending from 1.3290, 1.3323, 1.3353. Spot is currently 1.3387 while resistances are 1.3401, 1.3417, 1.3434 and 1.3456
EUR/USD has been a very lethargic play this morning while Eastern European names were selling on the open taking the pair lower and away form the 1.3400 handle. There has been some demand on the desks that has taken the pair back towards opening levels where further supply from European corporates came in to define this tight range.
EUR/USD to meet tough resistance 1.3417
EUR/USD “remains bid above the 1.3312 accelerated uptrend and only loss of last weeks low at 1.3188 will alleviate immediate upside pressure. Intraday charts are suggesting the 1.3417 high will be tested, but that it is likely to hold”, said Axel Rudolph, Senior Technical Analyst at Commerzbank. The 20 dma 1.3237, 50 dma 1.3166, 200 dma 1.3102. RSI (9) reads 68.06. Supports are ascending from 1.3290, 1.3323, 1.3353. Spot is currently 1.3387 while resistances are 1.3401, 1.3417, 1.3434 and 1.3456