Back
22 Apr 2013
Forex: EUR/USD ranges at 1.3035/50
FXstreet.com (Barcelona) - The EUR/USD remains weaker on Monday and has been trading under a narrow range at 1.3035/50 during the European morning. As the morning ends, the market is moving towards the lower band of the range in a very quiet mood.
Reuters reported that Luxembourg Finance Minister Frieden said the Cyprus bail-in shouldn’t be repeated and that the Eurozone has to be able to intervene in troubled countries without formal request from such country. The EUR/USD isn’t particularly fussing about such comments.
The economic calendar will provide EMU consumer confidence and US existing home sales. “Existing home sales for March are expected to hit the 5m mark for the first time since the stimulus-induced pop in November 2009. Sales have not been sustainably above 5M since mid-2007”, wrote TD Securities analysts.
“The recent test of 1.3110 resistance has failed and the outlook here is negative, for a slide towards 1.2950”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to minor intraday resistance at 1.3080.
Reuters reported that Luxembourg Finance Minister Frieden said the Cyprus bail-in shouldn’t be repeated and that the Eurozone has to be able to intervene in troubled countries without formal request from such country. The EUR/USD isn’t particularly fussing about such comments.
The economic calendar will provide EMU consumer confidence and US existing home sales. “Existing home sales for March are expected to hit the 5m mark for the first time since the stimulus-induced pop in November 2009. Sales have not been sustainably above 5M since mid-2007”, wrote TD Securities analysts.
“The recent test of 1.3110 resistance has failed and the outlook here is negative, for a slide towards 1.2950”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to minor intraday resistance at 1.3080.