18 Jul 2013
EUR/USD bounces off 1.3070 level
FXstreet.com (New York) - The EUR/USD foreign exchange rate bottomed out at the 1.3070 region (session low), rebounding in recent moments and recovering higher during US trading.
EUR/USD technical bias
According to Karen Jones, “Despite yesterdays weakness, the intraday charts continue to suggest that there is scope for a EUR/USD move towards the 1.3208 high (charted on the 11th July), but that we should see failure ahead of Fibonacci retracement at 1.3275. Dips are currently indicated to hold very near term in the 1.2985/40 band. Loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”
In light of the recent bounce by the EUR/USD, the pair is now trading negatively at -0.29%, settling at 1.3085 in these moments. Supportive means will trigger at 1.3083, ahead of 1.3048, and finally 1.3026, notes the Mataf.net analyst team.
In the United States, Initial Jobless Claims (July 12) came in at 334K, against expectations of 345K. Moreover, Continuing Jobless Claims (July 6) were reported at 3.114M, vs. projections calling for 2.959M.
EUR/USD technical bias
According to Karen Jones, “Despite yesterdays weakness, the intraday charts continue to suggest that there is scope for a EUR/USD move towards the 1.3208 high (charted on the 11th July), but that we should see failure ahead of Fibonacci retracement at 1.3275. Dips are currently indicated to hold very near term in the 1.2985/40 band. Loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”
In light of the recent bounce by the EUR/USD, the pair is now trading negatively at -0.29%, settling at 1.3085 in these moments. Supportive means will trigger at 1.3083, ahead of 1.3048, and finally 1.3026, notes the Mataf.net analyst team.
In the United States, Initial Jobless Claims (July 12) came in at 334K, against expectations of 345K. Moreover, Continuing Jobless Claims (July 6) were reported at 3.114M, vs. projections calling for 2.959M.