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Trading news
12 Apr 2013
Forex: EUR/USD recovering ground, eyes on 1.3100
FXstreet.com (Barcelona) - The single currency keeps the recovery alive after dropping to sub 1.3040 levels, picking up pace and trading back to the current region of 1.0385/90.
“We are generally more neutral on the EUR for the near term, but recent price action suggests it should be fairly well supported on dips and we still look to ultimately buy a break above 1.3150”, commented the research team at TD Securities.
As of writing, the cross is down 0.10% at 1.3087 facing the next support at 1.3044 (low Apr.11) followed by 1.3006 (low Apr.9) and finally 1.2980 (MA10d).
On the upside, a surpass of 1.3138 (high Apr.11) would open the door to 1.3140 (MA55d) and then 1.3150 (MA100d).
“We are generally more neutral on the EUR for the near term, but recent price action suggests it should be fairly well supported on dips and we still look to ultimately buy a break above 1.3150”, commented the research team at TD Securities.
As of writing, the cross is down 0.10% at 1.3087 facing the next support at 1.3044 (low Apr.11) followed by 1.3006 (low Apr.9) and finally 1.2980 (MA10d).
On the upside, a surpass of 1.3138 (high Apr.11) would open the door to 1.3140 (MA55d) and then 1.3150 (MA100d).