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26 Aug 2013
EUR/USD glued to 1.3370, US data eyed
FXstreet.com (Edinburgh) -The EUR/USD continues to trade around 1.3370/75 region on Monday, ahead of the US docket due later.
EUR/USD remains range-bound
The pair keeps meandering the broader 1.32-1.34 range since early July, although disappointing US data this week could well see a challenge of the 1.3500 handle after the recent bull run lost impetus around 1.3450. “Better data this week has the potential to see a small squeeze higher, but continue to believe that EUR/USD is near its medium to longer term high and remain bearish on the bigger picture outlook of the pair”, recommended S.Osborne and G.Moore, FX Strategists at TD Securities.
EUR/USD significant levels
The pair is now losing 0.08% at 1.3373 and a breakdown of 1.3342 (61.8% of 1.2754-1.3452) would target 1.3333 (MA10d) en route to 1.3297 (low Aug.22). On the upside, the initial barrier aligns at 1.3427 (high Aug.21) ahead of 1.3453 (high Aug.20) and then 1.3456 (high Feb.14).
EUR/USD remains range-bound
The pair keeps meandering the broader 1.32-1.34 range since early July, although disappointing US data this week could well see a challenge of the 1.3500 handle after the recent bull run lost impetus around 1.3450. “Better data this week has the potential to see a small squeeze higher, but continue to believe that EUR/USD is near its medium to longer term high and remain bearish on the bigger picture outlook of the pair”, recommended S.Osborne and G.Moore, FX Strategists at TD Securities.
EUR/USD significant levels
The pair is now losing 0.08% at 1.3373 and a breakdown of 1.3342 (61.8% of 1.2754-1.3452) would target 1.3333 (MA10d) en route to 1.3297 (low Aug.22). On the upside, the initial barrier aligns at 1.3427 (high Aug.21) ahead of 1.3453 (high Aug.20) and then 1.3456 (high Feb.14).