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12 Feb 2013
Forex: EUR/USD holds above 1.3400
After rallying to fresh highs at the 1.3465 area propelled mainly by crosses, the euro lost steam and retreated against the greenback. However, with the pullback being contained by the 1.3410 zone, the EUR/USD entered in a phase of consolidation as Wall Street indexes opened mixed.
At time of writing, EUR/USD is trading at the 1.3420 zone, where it posts a 0.1% gain on the day, having bounced from a low of 1.3360 and being rejected from a high of 1.3465.
As for technical levels, next resistance is seen at the 1.3460/65 zone, followed by at 1.3500 (psychological level) and 1.3577 (high Feb 7). Once below 1.3410, next supports could be found at 1.3360 (intraday low) and 1.3325 (low Feb 11) ahead of 1.3300 (psychological level).
At time of writing, EUR/USD is trading at the 1.3420 zone, where it posts a 0.1% gain on the day, having bounced from a low of 1.3360 and being rejected from a high of 1.3465.
As for technical levels, next resistance is seen at the 1.3460/65 zone, followed by at 1.3500 (psychological level) and 1.3577 (high Feb 7). Once below 1.3410, next supports could be found at 1.3360 (intraday low) and 1.3325 (low Feb 11) ahead of 1.3300 (psychological level).