12 Jul 2013
EUR/USD battling around 1.3100
FXstreet.com (Barcelona) - The EURUSD foreign exchange rate is last quoted quiet at 1.3096, stabilized for last 3 hours after the NY close below the 1.31 handle.
EUR/USD squeeze higher likely not over
“Yesterday's move higher in the euro was exacerbated by light volume and massive short covering amid an ostensibly less hawkish Fed. While we favor further dollar strength going forward, we aren't convinced that the unwind is over,” said Jonathan Eliasof, Principal at Pattern Traders Ltd..
EUR/USD key technical levels
Immediate resistance to the upside for EUR/USD shows at recent session highs 1.3099, followed by NY session highs at 1.3124, and yesterday's fresh 3-week highs at 1.3210. To the downside, closest support lies at July 02 highs 1.3080, followed by June 24 lows at 1.3057, and July 03 highs at 1.3034.
EUR/USD squeeze higher likely not over
“Yesterday's move higher in the euro was exacerbated by light volume and massive short covering amid an ostensibly less hawkish Fed. While we favor further dollar strength going forward, we aren't convinced that the unwind is over,” said Jonathan Eliasof, Principal at Pattern Traders Ltd..
EUR/USD key technical levels
Immediate resistance to the upside for EUR/USD shows at recent session highs 1.3099, followed by NY session highs at 1.3124, and yesterday's fresh 3-week highs at 1.3210. To the downside, closest support lies at July 02 highs 1.3080, followed by June 24 lows at 1.3057, and July 03 highs at 1.3034.