3 Jul 2013
EUR/USD climbs to highs around 1.3040
FXstreet.com (Edinburgh) - The upside momentum in the shared currency is quickly picking up pace again on Wednesday, with stops orders around 1.3000 being the main trigger so far.
US holiday and ECB looming on EUR/USD
Finally the pair managed to break above the critical resistance at 1.3000, which represented quite a significant barrier for any previous bull attempt, ahead of the ECB meeting due tomorrow. In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “Overall we are still bearish on the EUR (against the USD, GBP, and JPY in particular), although with the ECB meeting tomorrow, volatile price action could offer some better selling opportunities”.
EUR/USD tech levels
As of writing the pair is now advancing 0.30% at 1.3017 with the next resistance at 1.3055 (MA100d) followed by 1.3078 (high Jul.2) and finally 1.3103 (high Jun.28). On the flip side, a breakdown of 1.2923 (low Jul.3) would open the door to 1.2859 (weekly cloud top) and then 1.2838 (low May 29).
US holiday and ECB looming on EUR/USD
Finally the pair managed to break above the critical resistance at 1.3000, which represented quite a significant barrier for any previous bull attempt, ahead of the ECB meeting due tomorrow. In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “Overall we are still bearish on the EUR (against the USD, GBP, and JPY in particular), although with the ECB meeting tomorrow, volatile price action could offer some better selling opportunities”.
EUR/USD tech levels
As of writing the pair is now advancing 0.30% at 1.3017 with the next resistance at 1.3055 (MA100d) followed by 1.3078 (high Jul.2) and finally 1.3103 (high Jun.28). On the flip side, a breakdown of 1.2923 (low Jul.3) would open the door to 1.2859 (weekly cloud top) and then 1.2838 (low May 29).