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12 Feb 2013
Forex: EUR/USD waiting for Europe in red
The single currency eased some ground overnight, falling from levels above the key resistance at 1.3400 to yesterday’s comfort zone around 1.3370/80
After the spike to levels shy of 1.3430 on BUBA’s J.Weidmann’s comments, the euro lost impetus and retreated to lower levels, ahead of news from the Eurogroup meeting.
As of writing, the cross is losing 0.10% at 1.3387 facing the next support at 1.3360 (hourly lows Feb.11) ahead of 1.3326 (hourly low Feb.11) and then 1.3265 (low Jan.23).
On the flip side, a breakout of 1.3426 (MA21d) would bring1.3430 (high Feb.8) and finally 1.3462 (low Feb.5).
After the spike to levels shy of 1.3430 on BUBA’s J.Weidmann’s comments, the euro lost impetus and retreated to lower levels, ahead of news from the Eurogroup meeting.
As of writing, the cross is losing 0.10% at 1.3387 facing the next support at 1.3360 (hourly lows Feb.11) ahead of 1.3326 (hourly low Feb.11) and then 1.3265 (low Jan.23).
On the flip side, a breakout of 1.3426 (MA21d) would bring1.3430 (high Feb.8) and finally 1.3462 (low Feb.5).