28 Jun 2013
EUR/USD moves above 1.3050 on fresh risk appetite
FXstreet.com (Barcelona) - After a slow start in the Asia-Pacific the EUR/USD is having some bids taking the pair up to fresh session highs last at 1.3064, following a new round of risk appetite in the region, with the Nikkei index above the 13500 points mark for the first time in 2 weeks, up +2.30% for the day so far.
Sovereign buyers return to the bid side
“Sovereign buyers returned to the EUR/USD when it broke below 1.3000 earlier in the week and this has stabilised the pair after quite a sharp fall in recent weeks,” said FXWW founder Sean Lee. The pair is still down -0.44% for the week despite recent recovery from Wednesday's weekly lows at 1.2983, and about -1% year to date.
Key technical levels
Immediate resistance to the upside for EUR/USD shows at current levels as previous Monday/Tuesday weekly lows 1.3065, followed by Wednesday's highs at 1.3088, and Tuesday's weekly highs at 1.3150. To the downside, closest support lies at NY session highs at 1.3055, followed by recent session lows at 1.3029, and yesterday's lows at 1.2999.
Sovereign buyers return to the bid side
“Sovereign buyers returned to the EUR/USD when it broke below 1.3000 earlier in the week and this has stabilised the pair after quite a sharp fall in recent weeks,” said FXWW founder Sean Lee. The pair is still down -0.44% for the week despite recent recovery from Wednesday's weekly lows at 1.2983, and about -1% year to date.
Key technical levels
Immediate resistance to the upside for EUR/USD shows at current levels as previous Monday/Tuesday weekly lows 1.3065, followed by Wednesday's highs at 1.3088, and Tuesday's weekly highs at 1.3150. To the downside, closest support lies at NY session highs at 1.3055, followed by recent session lows at 1.3029, and yesterday's lows at 1.2999.