6 Jun 2013
EUR/USD eases off highs to 1.3113/14
FXstreet.com (Barcelona) - The EUR/USD recently peaked at session highs at 1.3128 Thursday, thereby retracing back slightly during European trading.
In these moments, the pair is trading at 1.3113/14, or +0.15% above it’s opening. Should these gains continue to build, Mataf.net analysts identify the next short-term resistances at 1.3112, then 1.3145, and finally 1.3174. Meanwhile, support lies below at 1.3005, ahead of 1.3021, and 1.2988.
Today, both the European Central Bank and the Bank of England hold their monthly policy meetings. “Neither central bank is set to make any changes, however both may still consider further easing under a new governor from July in the BoE's case or if Eurozone sentiment worsens again over the summer in the ECB's case.” notes Research Analyst Gareth Berry at UBS.
According to the Technical Analyst Team at ICN.com, “The EUR/USD moved to the upside in an attempt to breach the first extended target of the bullish harmonic Butterfly Pattern represented in 78.6% correction at 1.3110. The possibility of breaching the referred to level and extending the bullish move is valid today, as the pair is stable above 61.8% correction at 1.3045.”
In these moments, the pair is trading at 1.3113/14, or +0.15% above it’s opening. Should these gains continue to build, Mataf.net analysts identify the next short-term resistances at 1.3112, then 1.3145, and finally 1.3174. Meanwhile, support lies below at 1.3005, ahead of 1.3021, and 1.2988.
Today, both the European Central Bank and the Bank of England hold their monthly policy meetings. “Neither central bank is set to make any changes, however both may still consider further easing under a new governor from July in the BoE's case or if Eurozone sentiment worsens again over the summer in the ECB's case.” notes Research Analyst Gareth Berry at UBS.
According to the Technical Analyst Team at ICN.com, “The EUR/USD moved to the upside in an attempt to breach the first extended target of the bullish harmonic Butterfly Pattern represented in 78.6% correction at 1.3110. The possibility of breaching the referred to level and extending the bullish move is valid today, as the pair is stable above 61.8% correction at 1.3045.”