11 Jul 2013
EUR/USD overtakes 1.3100 region
FXstreet.com (New York) - The EUR/USD foreign exchange rate finally retook the 1.3100 level Thursday, rebounding off several attempts at the 1.3000 region during US trading.
With the exception of a series of employment indicators in the United States earlier, the EUR/USD has not been vary data-reliant, instead consolidating the majority of its strength that was fostered from yesterdays USD assault.
At the time of writing, the EUR/USD has managed to break higher, now testing the 1.3100 region (1.3103 presently), en route to a gain of +0.96% Thursday. Resistance can be found at 1.3115, onto 1.3150 (June 25 high), and ultimately 1.3170 (June 20 low)
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD retested the ascending support level and rebounded to the upside forcing us to think that positivity is available for the rest of the day as long as the pair stabilize above 1.2975. We prefer stabilizing above 1.3070 to best support this outlook.”
With the exception of a series of employment indicators in the United States earlier, the EUR/USD has not been vary data-reliant, instead consolidating the majority of its strength that was fostered from yesterdays USD assault.
At the time of writing, the EUR/USD has managed to break higher, now testing the 1.3100 region (1.3103 presently), en route to a gain of +0.96% Thursday. Resistance can be found at 1.3115, onto 1.3150 (June 25 high), and ultimately 1.3170 (June 20 low)
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD retested the ascending support level and rebounded to the upside forcing us to think that positivity is available for the rest of the day as long as the pair stabilize above 1.2975. We prefer stabilizing above 1.3070 to best support this outlook.”