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16 Aug 2013
EUR/USD eases further, erases weekly gains
FXstreet.com (Córdoba) - Having been rejected by the 1.3380 zone, EUR/USD came under pressure and turned intraday negative.
EUR/USD found resistance at a weekly high of 1.3379, scored earlier during the session encouraged by disappointing US data, and pulled back. EUR/USD returned to the 1.3310/15 area where it is 0.2% below its opening price but virtually unchanged for the week.
“With little risk events ahead – all three BOE, ECB and FED’s heads will be absent in Jackson Hole Symposium next week, so little chances of fireworks coming from there - the EUR/USD seems poised to continue ranging between 1.3200 and 1.3415, past June high”, says Valeria Bednarik, analyst at FXstreet.com.
“In the meantime, resistances if 1.3415 actually gives up, come at 1.3500 and 1.3580 area, this last hardly seen for the upcoming days”, the analyst commented. “Below 1.3300, the main support remains at the strong congestion zone around 1.3180/1.3200, that will likely attract again buyers if reached”.
EUR/USD found resistance at a weekly high of 1.3379, scored earlier during the session encouraged by disappointing US data, and pulled back. EUR/USD returned to the 1.3310/15 area where it is 0.2% below its opening price but virtually unchanged for the week.
“With little risk events ahead – all three BOE, ECB and FED’s heads will be absent in Jackson Hole Symposium next week, so little chances of fireworks coming from there - the EUR/USD seems poised to continue ranging between 1.3200 and 1.3415, past June high”, says Valeria Bednarik, analyst at FXstreet.com.
“In the meantime, resistances if 1.3415 actually gives up, come at 1.3500 and 1.3580 area, this last hardly seen for the upcoming days”, the analyst commented. “Below 1.3300, the main support remains at the strong congestion zone around 1.3180/1.3200, that will likely attract again buyers if reached”.