27 Jun 2013
EUR/USD clinging to positive territory
FXstreet.com (New York) - The EUR/USD foreign exchange rate inched lower Thursday, following what was otherwise a sideways movement in the aftermath of the US data release earlier today.
Presently, the EUR/USD technical pair is now trading at 1.3029 or still +0.14% Thursday during US trading. “Yesterday the EUR/USD closed below the strong support at 1.3034. The risk is for further downside with next support at 1.2797, while resistance is at 1.3151.” notes Gareth Berry, a Research Analyst at UBS.
EUR/USD positive expectations remain above 1.2970 support
According to the Technical Analyst Team at ICN.com, “The EUR/USD witnessed weak trading in the European session today, though it is still stable above support level 1.2970. Prolonged stability above 1.2970 forces us to hold on to our positive expectations.”
EUR/USD virtually sideways after US data
Earlier today in the United States, Personal Income (MoM) rose +0.5% in May, beating estimates of +0.2%. In addition, Core Personal Consumption Expenditure – Price Index (YoY) yielded +1.1% in May, which matched its previous figure. Finally, Initial Jobless Claims were reported at 346K, exceeding expectations of 345K.
Presently, the EUR/USD technical pair is now trading at 1.3029 or still +0.14% Thursday during US trading. “Yesterday the EUR/USD closed below the strong support at 1.3034. The risk is for further downside with next support at 1.2797, while resistance is at 1.3151.” notes Gareth Berry, a Research Analyst at UBS.
EUR/USD positive expectations remain above 1.2970 support
According to the Technical Analyst Team at ICN.com, “The EUR/USD witnessed weak trading in the European session today, though it is still stable above support level 1.2970. Prolonged stability above 1.2970 forces us to hold on to our positive expectations.”
EUR/USD virtually sideways after US data
Earlier today in the United States, Personal Income (MoM) rose +0.5% in May, beating estimates of +0.2%. In addition, Core Personal Consumption Expenditure – Price Index (YoY) yielded +1.1% in May, which matched its previous figure. Finally, Initial Jobless Claims were reported at 346K, exceeding expectations of 345K.