19 Jul 2013
EUR/USD drops below 1.3100 level
FXstreet.com (New York) - The EUR/USD foreign exchange rate has weakened Friday morning, surrendering its grip on the 1.3100 region during Asian trading.
EUR/USD strategic bias
According to Jim Langlands at FXcharts, “The 1.3100 pivot appears to be the most likely target in the near-term Friday – today’s low therefore becomes the first minor level to watch, below which could see further declines towards 1.3035 and then back to 1.3000, beneath which, minor Fibo support/200-hour MA lies at 1.2980.”
At the time of writing, the EUR/USD has fallen to 1.3088, presently establishing fresh session lows Friday. In terms of the technical levels, the EUR/USD will face support at 1.3073 (July 18 low), ahead of 1.3054 (July 16 low), and 1.3014 (July 12 low).
EUR/USD strategic bias
According to Jim Langlands at FXcharts, “The 1.3100 pivot appears to be the most likely target in the near-term Friday – today’s low therefore becomes the first minor level to watch, below which could see further declines towards 1.3035 and then back to 1.3000, beneath which, minor Fibo support/200-hour MA lies at 1.2980.”
At the time of writing, the EUR/USD has fallen to 1.3088, presently establishing fresh session lows Friday. In terms of the technical levels, the EUR/USD will face support at 1.3073 (July 18 low), ahead of 1.3054 (July 16 low), and 1.3014 (July 12 low).