6 Jun 2013
EUR/USD stabilised around 1.3245/50
FXstreet.com (Barcelona) - It seems the EUR/USD is finding comfort around 1.3245/50 towards the end of the session in Wall St., after the pronounced ascent to levels above 1.3300 the figure.
The strong rally in the pair sparked after Draghi’s press conference, waking up the rest of the risk-associated assets. “Our key takeaway on rates is therefore that a cut in the main refinancing rate is certainly possible but no longer looks probable in the near future, and a cut in the deposit rate now looks pretty unlikely. Our central case is now for rates to remain on hold”, assessed Strategists at RBS, Richard Barwell and Xinying Chen.
At the moment the pair is gaining 1.17% at 1.3247 facing the next hurdle at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3343 (61.8% of Feb-Apr slide). On the flip side, a drop beyond 1.3230 (weekly Kijun) would clear the way to 1.3108 (MA100d) en route to 1.3075 (low Jun6).
The strong rally in the pair sparked after Draghi’s press conference, waking up the rest of the risk-associated assets. “Our key takeaway on rates is therefore that a cut in the main refinancing rate is certainly possible but no longer looks probable in the near future, and a cut in the deposit rate now looks pretty unlikely. Our central case is now for rates to remain on hold”, assessed Strategists at RBS, Richard Barwell and Xinying Chen.
At the moment the pair is gaining 1.17% at 1.3247 facing the next hurdle at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3343 (61.8% of Feb-Apr slide). On the flip side, a drop beyond 1.3230 (weekly Kijun) would clear the way to 1.3108 (MA100d) en route to 1.3075 (low Jun6).