9 Jul 2013
EUR/USD paring part of post-NFP loses
FXstreet.com (Barcelona) - The EUR/USD foreign exchange rate is last trading at 1.2870, off recent late NY session highs at 1.2882, retracing almost all last leg down following Friday's NFP.
EUR/USD moves up to 1.2925 seen as corrective
“As for the EUR/USD, the hourly chart shows price above 20 SMA while indicators head north above their midlines, supporting a short term upward continuation,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart 20 SMA maintains bearish slope currently around 1.2900 while indicators approach their midlines, still in negative territory. Movements up to 1.2925, 78.6% retracement of its latest bullish run, should be seen as corrective, with a break above opening doors for an extension towards 1.2960/1.3000 over the upcoming days.”
EUR/USD key technical levels
Bednarik locates support levels at: 1.2840, 1.2795 and 1.2745, while resistance levels at: 1.2880, 1.2925 and 1.2960.
EUR/USD moves up to 1.2925 seen as corrective
“As for the EUR/USD, the hourly chart shows price above 20 SMA while indicators head north above their midlines, supporting a short term upward continuation,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart 20 SMA maintains bearish slope currently around 1.2900 while indicators approach their midlines, still in negative territory. Movements up to 1.2925, 78.6% retracement of its latest bullish run, should be seen as corrective, with a break above opening doors for an extension towards 1.2960/1.3000 over the upcoming days.”
EUR/USD key technical levels
Bednarik locates support levels at: 1.2840, 1.2795 and 1.2745, while resistance levels at: 1.2880, 1.2925 and 1.2960.