19 Jul 2013
EUR/USD eases off highs
FXstreet.com (New York) - The EUR/USD foreign exchange rate tested highs earlier of 1.3151, though presently the pair has eased slightly during the afternoon of US trading.
In what has transpired as a relatively muted US session, the EUR/USD has now retreated slightly to the 1.3138 level in these moments, still gripping to a +0.22% gain Friday. Briefing the technicals, the Danske Research Team points to resistances at 1.3060, followed by 1.3179, and finally 1.3208.
EUR/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD remains essentially short-term sidelined. Despite yesterday’s weakness, the intraday charts continue to suggest that there is scope for a move towards the 1.3208 high (charted on the 11th July). Having said that, we should see failure ahead of the 78.6% Fibonacci retracement at 1.3275. Dips are currently indicated to hold very near term in the 1.2985/40 band. Loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”
In what has transpired as a relatively muted US session, the EUR/USD has now retreated slightly to the 1.3138 level in these moments, still gripping to a +0.22% gain Friday. Briefing the technicals, the Danske Research Team points to resistances at 1.3060, followed by 1.3179, and finally 1.3208.
EUR/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD remains essentially short-term sidelined. Despite yesterday’s weakness, the intraday charts continue to suggest that there is scope for a move towards the 1.3208 high (charted on the 11th July). Having said that, we should see failure ahead of the 78.6% Fibonacci retracement at 1.3275. Dips are currently indicated to hold very near term in the 1.2985/40 band. Loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”