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14 Jun 2013
EUR/USD downside limited above 1.3300
FXstreet.com (New York) - The EUR/USD has been facing pressure Friday, with the foreign exchange rate descending lower towards session lows during European trading.
EUR/USD stable above 1.3340
“Despite the negative pressures recently, we find the EUR/USD pair stable above 1.3340 level. In addition, prolonged stability above 1.3340 keeps our expectations positive, as we expect a new upside wave today. Initial target set at 1.3505 and stability above 1.3225 keeps our expectations valid in the upcoming period.” suggests the Technical Analyst Team at ICN.com.
Technically speaking, the pair is operating just off session lows at 1.3316, or -0.42% in these moments. The EUR/USD will look towards supports at 1.3299 followed by 1.3233, and finally 1.3187. Alternatively, a movement to the upside and paring of losses will usher in resistances at 1.3411, then 1.3457, and eventually 1.3523, calculates the Mataf.net analyst team.
EUR/USD stable above 1.3340
“Despite the negative pressures recently, we find the EUR/USD pair stable above 1.3340 level. In addition, prolonged stability above 1.3340 keeps our expectations positive, as we expect a new upside wave today. Initial target set at 1.3505 and stability above 1.3225 keeps our expectations valid in the upcoming period.” suggests the Technical Analyst Team at ICN.com.
Technically speaking, the pair is operating just off session lows at 1.3316, or -0.42% in these moments. The EUR/USD will look towards supports at 1.3299 followed by 1.3233, and finally 1.3187. Alternatively, a movement to the upside and paring of losses will usher in resistances at 1.3411, then 1.3457, and eventually 1.3523, calculates the Mataf.net analyst team.