15 Nov 2013
EUR/USD bounces toward daily highs
FXstreet.com (Córdoba) - The EUR/USD found support at the 100-hour SMA and bounced from the 1.3430 zone where it bottomed out in the wake of soft Eurozone inflation figures.
The EUR/USD managed to climb back to the 1.3460 zone, erasing losses and turning flat on the day, but the pair failed to pick up momentum in the absence of economic events. "General consolidation appears to be the rule of the day. The euro is trading in narrow ranges, within Wednesday's and yesterday's range", says the BBH analyst team. "The $1.35 level has blocked the upside, while support has been established near $1.3350".
EUR/USD levels to watch
Immediate resistance for EUR/USD stands at 1.3463 (daily high) followed by 1.3497 (Nov 14 high) and 1.3547 (Nov 6 high). On the flip side, supports are seen at 1.3430 (100-hour SMA) and 1.3417 (Nov 15 low) ahead of 1.3400 (psychological level).
The EUR/USD managed to climb back to the 1.3460 zone, erasing losses and turning flat on the day, but the pair failed to pick up momentum in the absence of economic events. "General consolidation appears to be the rule of the day. The euro is trading in narrow ranges, within Wednesday's and yesterday's range", says the BBH analyst team. "The $1.35 level has blocked the upside, while support has been established near $1.3350".
EUR/USD levels to watch
Immediate resistance for EUR/USD stands at 1.3463 (daily high) followed by 1.3497 (Nov 14 high) and 1.3547 (Nov 6 high). On the flip side, supports are seen at 1.3430 (100-hour SMA) and 1.3417 (Nov 15 low) ahead of 1.3400 (psychological level).