31 Jul 2013
EUR/USD eyes 1.3300 as FOMC looms
FXstreet.com (Edinburgh) -The bloc currency remains in the top end of the intraday range, with the EUR/USD meandering around 1.3280/90.
EUR/USD targeting 1.3300
The critical 1.3300 handle remains a tough barrier for euro bulls so far, with the pair yet unable to print a close above it on a daily basis. Strategists at TD Securities suggested “The single currency in particular though shows signs of fading momentum, and without a considerable USD-negative signal today (eg. very weak US data, or a more dovish sounding Fed) it may struggle to breach recent highs. The 1.3300 threshold is looking to be a progressively stronger resistance zone, and a failure to break that level today could mark the beginning of a decent move lower”.
EUR/USD key levels
The pair is now up 0.16% at 1.3284 and a surpass of 1.3302 (high Jul.20/30) would open the door to 1.3325 (low. Jun.18) and then 1.3417 (high Jun.19). On the flip side, support levels line up at 1.3234 (low Jul.30) ahead of 1.3208 (high Jul.11) and then 1.3200 (psychological level).
EUR/USD targeting 1.3300
The critical 1.3300 handle remains a tough barrier for euro bulls so far, with the pair yet unable to print a close above it on a daily basis. Strategists at TD Securities suggested “The single currency in particular though shows signs of fading momentum, and without a considerable USD-negative signal today (eg. very weak US data, or a more dovish sounding Fed) it may struggle to breach recent highs. The 1.3300 threshold is looking to be a progressively stronger resistance zone, and a failure to break that level today could mark the beginning of a decent move lower”.
EUR/USD key levels
The pair is now up 0.16% at 1.3284 and a surpass of 1.3302 (high Jul.20/30) would open the door to 1.3325 (low. Jun.18) and then 1.3417 (high Jun.19). On the flip side, support levels line up at 1.3234 (low Jul.30) ahead of 1.3208 (high Jul.11) and then 1.3200 (psychological level).