21 Aug 2013
EUR/USD held bears at 1.3360
FXstreet.com (Edinburgh) -The EUR’s intraday pullback seems to have found a decent support around 1.3360/55 on Wednesday, lifting the EUR/USD to the current region of 1.3370 as FOMC minutes loom.
EUR/USD trimming Tuesday’s gains
After climbing to 6-month highs around 1.3450 in yesterday’s session, the pair is correcting lower today as market participants remain cautious regarding today’s FOMC statement. Camilla Sutton, Chief Strategist at Scotiabank, commented that short term technical studies remain mixed, arguing, “technicals are warning that momentum behind further EUR upside is fading. We see better risk/reward elsewhere. Support lies at yesterday’s open of 1.3335 and resistance is at the high of 1.3452”.
EUR/USD relevant levels
The pair is now losing 0.33% at 1.3373 with the next support at 1.3338 (MA10d) ahead of 1.3323 (low Aug.20) and then 1.3314 (low Aug.19). On the flip side, a break above 1.3427 (high Aug.21) would aim for 1.3453 (high Aug.20) and finally 1.3456 (high Feb.14).
EUR/USD trimming Tuesday’s gains
After climbing to 6-month highs around 1.3450 in yesterday’s session, the pair is correcting lower today as market participants remain cautious regarding today’s FOMC statement. Camilla Sutton, Chief Strategist at Scotiabank, commented that short term technical studies remain mixed, arguing, “technicals are warning that momentum behind further EUR upside is fading. We see better risk/reward elsewhere. Support lies at yesterday’s open of 1.3335 and resistance is at the high of 1.3452”.
EUR/USD relevant levels
The pair is now losing 0.33% at 1.3373 with the next support at 1.3338 (MA10d) ahead of 1.3323 (low Aug.20) and then 1.3314 (low Aug.19). On the flip side, a break above 1.3427 (high Aug.21) would aim for 1.3453 (high Aug.20) and finally 1.3456 (high Feb.14).