24 Jul 2013
EUR/USD erases daily gains
FXstreet.com (Córdoba) - The EUR/USD erased intraday gains in a sudden drop as the greenback strengthened across the board ahead of the NY opening.
EUR/USD rejected from 1.3255
EUR/USD was rejected from a fresh 1-month peak of 1.3256, and dropped over 40 pips in a matter of minutes with no clear catalyst. EUR/USD slid to a session low of 1.3214 and it was last at the 1.3220 zone, virtually unchanged on the day ahead of the US Manufacturing PMI release.
EUR/USD technical levels
As for technical levels, if EUR/USD breaks below 1.3215, next supports could be found at 1.3200 (psychological level) and 1.3165 (Jul 23 low), while in case the pair picks up fresh bullish momentum, resistances are seen at 1.3255/60 (Jun 21 and Jul 24 highs/76.4% of 1.3415-1.2757) followed by 1.3300 (psychological level).
EUR/USD rejected from 1.3255
EUR/USD was rejected from a fresh 1-month peak of 1.3256, and dropped over 40 pips in a matter of minutes with no clear catalyst. EUR/USD slid to a session low of 1.3214 and it was last at the 1.3220 zone, virtually unchanged on the day ahead of the US Manufacturing PMI release.
EUR/USD technical levels
As for technical levels, if EUR/USD breaks below 1.3215, next supports could be found at 1.3200 (psychological level) and 1.3165 (Jul 23 low), while in case the pair picks up fresh bullish momentum, resistances are seen at 1.3255/60 (Jun 21 and Jul 24 highs/76.4% of 1.3415-1.2757) followed by 1.3300 (psychological level).