25 Jun 2013
EUR/USD consolidates above 1.3100
Fxstreet.com (Edinburgh) - The shared currency continues its recovery through the key level at 1.3100 on Tuesday, lifting the EUR/USD from Monday’s lows around 1.3060.
USD momentum pushing EUR/USD
The USD upside keeps its march north although it has slowed its pace after 10-year UST yields scaled back its recent ascent overnight, allowing some respite amongst traders. Next on tap in the euro area will be Italian Retail Sales for the month of April, ahead of auctions of 3m and 9m Spanish Letras and the 10-year Italian benchmark bond. Across the pond, Durable Goods Orders and Consumer Confidence will be in the limelight.
EUR/USD levels to watch
As of writing, the pair is down 0.06% at 1.3111 with the next support at 1.3080 (MA200d) followed by 1.2998 (high May 22) and finally1.2954 (low Apr.24). On the flip side, a breakout of 1.3404 (high Jan.14) would expose 1.3417 (high Jun.19) and then 1.3434 (high Feb.20).
USD momentum pushing EUR/USD
The USD upside keeps its march north although it has slowed its pace after 10-year UST yields scaled back its recent ascent overnight, allowing some respite amongst traders. Next on tap in the euro area will be Italian Retail Sales for the month of April, ahead of auctions of 3m and 9m Spanish Letras and the 10-year Italian benchmark bond. Across the pond, Durable Goods Orders and Consumer Confidence will be in the limelight.
EUR/USD levels to watch
As of writing, the pair is down 0.06% at 1.3111 with the next support at 1.3080 (MA200d) followed by 1.2998 (high May 22) and finally1.2954 (low Apr.24). On the flip side, a breakout of 1.3404 (high Jan.14) would expose 1.3417 (high Jun.19) and then 1.3434 (high Feb.20).