8 Aug 2013
EUR/USD rally stalls, eases off highs
FXstreet.com (New York) - The EUR/USD technical pair recently eased off its earlier highs, still securing an advance of +0.36%, despite the minor retracement.
Presently, the EUR/USD is now trading at 1.3385, having traded as high as 1.3401 earlier today – a highly unstable level thus far during US trading. Briefing the technicals, the initial jump past resistance at 1.3367 proved to be not enough to halt the climb, though the next measure of correction at 1.3396 is quite strong indeed, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the TD Securities Team, “It’s worth pointing out that the recent EUR/USD grind higher is now testing some pretty important resistance points in the 1.3340/60 area. Fundamentals leave us skeptical on the potential for a further rally, but the weekly charts suggest current levels are key.”
Presently, the EUR/USD is now trading at 1.3385, having traded as high as 1.3401 earlier today – a highly unstable level thus far during US trading. Briefing the technicals, the initial jump past resistance at 1.3367 proved to be not enough to halt the climb, though the next measure of correction at 1.3396 is quite strong indeed, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the TD Securities Team, “It’s worth pointing out that the recent EUR/USD grind higher is now testing some pretty important resistance points in the 1.3340/60 area. Fundamentals leave us skeptical on the potential for a further rally, but the weekly charts suggest current levels are key.”