26 Jul 2013
EUR/USD flat-lining around 1.3280
FXstreet.com (Edinburgh) -The shared currency is trading in a very narrow range on Friday, with the EUR/USD hovering over 1.3280 and recovering ground from Thursday’s lows near 1.3160.
EUR/USD supported by USD weakness
The pair found extra buying pressure on Thursday on the increased weakness surrounding the greenback, hurt by news that some US Senators would back Janet Yellen, a known dove, to be the next Fed Chairman. In the same tone, rumours anticipating a dovish tone in the next FOMC meeting collaborated with the downside. A second-tier calendar in the euro area will only offer French Consumer Confidence while the Reuters/Michigan is the only release across the pond.
EUR/USD levels to watch
At the moment the pair is up 0.01% at 1.3279 with the next resistance at 1.3302 (high Jun.20). On the downside, a breach of 1.3177 (low. Jul.24) would open the door to 1.3164 (low Jul.23) and finally 1.3150 (MA10d).
EUR/USD supported by USD weakness
The pair found extra buying pressure on Thursday on the increased weakness surrounding the greenback, hurt by news that some US Senators would back Janet Yellen, a known dove, to be the next Fed Chairman. In the same tone, rumours anticipating a dovish tone in the next FOMC meeting collaborated with the downside. A second-tier calendar in the euro area will only offer French Consumer Confidence while the Reuters/Michigan is the only release across the pond.
EUR/USD levels to watch
At the moment the pair is up 0.01% at 1.3279 with the next resistance at 1.3302 (high Jun.20). On the downside, a breach of 1.3177 (low. Jul.24) would open the door to 1.3164 (low Jul.23) and finally 1.3150 (MA10d).