7 Aug 2013
EUR/USD moves above 1.3300 level, poised to retest highs
FXstreet.com (New York) - The EUR/USD foreign exchange rate refused to be held down for long, bulling through the 1.3300 barrier Wednesday morning during US trading and mounting an advance towards previous highs at 1.3325.
EUR/USD strategic bias
Technically speaking, the EUR/USD is now trading at 1.3316, presently securing a gain of +0.04% above its opening. On the upside, the pair remains constrained by resistances at 1.3323, onto 1.3345, and finally 1.3417.
According to the Technical Analyst Team at ICN.com, “The EUR/USD touched the 1.3270 level before rebounding to the upside, significantly reducing risk. We keep our negative expectations due to its failure in achieving a four-hour closing above 1.3315. If the pair stabilized above 1.3315, we will reverse our expectations from negative to positive.”
EUR/USD strategic bias
Technically speaking, the EUR/USD is now trading at 1.3316, presently securing a gain of +0.04% above its opening. On the upside, the pair remains constrained by resistances at 1.3323, onto 1.3345, and finally 1.3417.
According to the Technical Analyst Team at ICN.com, “The EUR/USD touched the 1.3270 level before rebounding to the upside, significantly reducing risk. We keep our negative expectations due to its failure in achieving a four-hour closing above 1.3315. If the pair stabilized above 1.3315, we will reverse our expectations from negative to positive.”