13 Sep 2013
EUR/USD violates 1.3280 support to print session lows
FXstreet.com (Chicago) - EUR/USD failed to resist bearish pressure and cracked down immediate support at 1.3280 to now trade at 1.3279.
Price action reveals heavy selling as the euro weakens against a stronger greenback, extending bearish momentum since the opening of the Asian trading session. The pair hovers at critical 1.3280 area and oscillates back and forth below the 1.3281 (September 10th highs) with next support at 1.3254 (September 12th lows) ahead of 1.3230 (September 10th lows) and resistances at 1.33 (August 28th lows), 1.3323 (triple tops, September 12th highs, September 11th highs) followed by 1.3344 (August 28th highs). High volatility is expected this incoming days on Fed’s tapering next week.
Price action reveals heavy selling as the euro weakens against a stronger greenback, extending bearish momentum since the opening of the Asian trading session. The pair hovers at critical 1.3280 area and oscillates back and forth below the 1.3281 (September 10th highs) with next support at 1.3254 (September 12th lows) ahead of 1.3230 (September 10th lows) and resistances at 1.33 (August 28th lows), 1.3323 (triple tops, September 12th highs, September 11th highs) followed by 1.3344 (August 28th highs). High volatility is expected this incoming days on Fed’s tapering next week.