1 Aug 2013
EUR/USD stabilizes above 1.3200 region
FXstreet.com (New York) - The EUR/USD foreign exchange touched below the 1.3200 level earlier today (1.3194 session low), having felt the heat from a USD resurgence Thursday during US trading.
In these moments, the EUR/USD is still buried in negative territory, sustaining itself above the 1.3200 level, though hovering precariously close at 1.3217 – now down -0.63% off its opening at the time of writing. Following a break below support at 1.3234 the Danske Research Team calculates the next short-term supports for the EUR/USD at 1.3207, ahead of 1.3191.
EUR/USD strategic bias
According to Sean Callow, a Global FX Strategist at Westpac, “The FOMC’s minor dovish tweaks should support EUR/USD during the days ahead since the ECB is unlikely to shift stance any time soon. A run towards 1.3400 is likely this week, but beyond that will be tough. Despite recent positive economic momentum, performance across the Eurozone remains uneven and it remains beset by structural problems. Multi-month we are looking for 1.2800 and lower.”
In these moments, the EUR/USD is still buried in negative territory, sustaining itself above the 1.3200 level, though hovering precariously close at 1.3217 – now down -0.63% off its opening at the time of writing. Following a break below support at 1.3234 the Danske Research Team calculates the next short-term supports for the EUR/USD at 1.3207, ahead of 1.3191.
EUR/USD strategic bias
According to Sean Callow, a Global FX Strategist at Westpac, “The FOMC’s minor dovish tweaks should support EUR/USD during the days ahead since the ECB is unlikely to shift stance any time soon. A run towards 1.3400 is likely this week, but beyond that will be tough. Despite recent positive economic momentum, performance across the Eurozone remains uneven and it remains beset by structural problems. Multi-month we are looking for 1.2800 and lower.”