30 Aug 2013
EUR/USD dipping to 5-week lows
FXstreet.com (Ediinburgh) -The selling interest surrounding the shared currency is now accelerating on Friday, dragging the EUR/USD to test levels last seen in late July.
EUR/USD hurt by risk aversion, month-ends
Decent data from the euro area throughout the week were ineffective to spark the least attempt of a recovery, as Syria-induced spiralling risk aversion plus month-end rebalances keep favouring the greenback. “On the charts, trend support and the 40-day moving average have provided a short term base in the mid-1.32 area, but we continue to see room for more downside from here. We prefer selling rallies toward the upper 1.32s, although opportunities may be scarce”, recommended G.Moore and S.Osborne, FX Strategists at TD Securities.
EUR/USD key levels
At the moment the pair is down 0.37% at 1.3190 with the next support at 1.3164 (61.8% of 1.2755-1.3453). On the upside, the initial resistance lines up at 1.3255 (high Aug.30) followed by1.3298 (low Aug.22) and finally 1.3322 (low Aug.27).
EUR/USD hurt by risk aversion, month-ends
Decent data from the euro area throughout the week were ineffective to spark the least attempt of a recovery, as Syria-induced spiralling risk aversion plus month-end rebalances keep favouring the greenback. “On the charts, trend support and the 40-day moving average have provided a short term base in the mid-1.32 area, but we continue to see room for more downside from here. We prefer selling rallies toward the upper 1.32s, although opportunities may be scarce”, recommended G.Moore and S.Osborne, FX Strategists at TD Securities.
EUR/USD key levels
At the moment the pair is down 0.37% at 1.3190 with the next support at 1.3164 (61.8% of 1.2755-1.3453). On the upside, the initial resistance lines up at 1.3255 (high Aug.30) followed by1.3298 (low Aug.22) and finally 1.3322 (low Aug.27).