22 Jul 2013
EUR/USD dips to 1.3160
FXstreet.com (Edinburgh) -Renewed weakness surrounding the shared currency dragged the EUR/USD to the area around 1.3160 from peaks beyond 1.3190 on Monday.
EUR/USD keeps the range
Despite the current correction lower, the pair keeps not only the positive ground but also the upper end of today’s range. “Eurozone survey data will be the fundamental focus this week (PMI’s on Wednesday and German IFO on Thursday) and while there may some upside risks to the German figures, we continue to remain overall bearish on the single currency. We would reconsider with a decisive break above 1.32”, noted G.Moore and S.Osborne, FX Strategists at TD Securities.
EUR/USD key levels
The pair is now advancing 0.19% at 1.3164 with the next hurdle at 1.3208 (high Jul.11) ahead of 1.3255 (high Jun.21) and finally 1.3261 (76.4% of 1.3417-1.2755). On the flip side, a violation of 1.3115 (low Jul.22) would target 1.3093 (cloud base) en route to 1.3089 (low Jul19).
EUR/USD keeps the range
Despite the current correction lower, the pair keeps not only the positive ground but also the upper end of today’s range. “Eurozone survey data will be the fundamental focus this week (PMI’s on Wednesday and German IFO on Thursday) and while there may some upside risks to the German figures, we continue to remain overall bearish on the single currency. We would reconsider with a decisive break above 1.32”, noted G.Moore and S.Osborne, FX Strategists at TD Securities.
EUR/USD key levels
The pair is now advancing 0.19% at 1.3164 with the next hurdle at 1.3208 (high Jul.11) ahead of 1.3255 (high Jun.21) and finally 1.3261 (76.4% of 1.3417-1.2755). On the flip side, a violation of 1.3115 (low Jul.22) would target 1.3093 (cloud base) en route to 1.3089 (low Jul19).