24 Jun 2013
EUR/USD maintains narrow consolidation above 1.3100
FXstreet.com (New York) - The EUR/USD technical pair has been relegated to sideways trading during the European session Monday, refusing to budge off of the 1.3100 barrier.
EUR/USD eyes 50 and 200-day MA
“The EUR/USD sold off aggressively last week, backing away from 1.3427/46, the 200 week ma and the 2011-2013 resistance line. This is key resistance and failure here is viewed as negative. Attention is on support offered by the 55 and 200-day moving averages at 1.3080/73. Currently we would allow for a rebound from here, but suspect that this will struggle to clear 1.3250.” warns Karen Jones, an analyst at Commerzbank.
Technically speaking, the pair is operating at 1.3106, or +0.11% in these moments. The EUR/USD will look towards resistances at 1.3209, then 1.3310, and 1.3365. Alternatively, a movement lower will initiate supports at 1.3053, ahead of 1.2998, and 1.2987, calculates the Mataf.net analyst team.
EUR/USD eyes 50 and 200-day MA
“The EUR/USD sold off aggressively last week, backing away from 1.3427/46, the 200 week ma and the 2011-2013 resistance line. This is key resistance and failure here is viewed as negative. Attention is on support offered by the 55 and 200-day moving averages at 1.3080/73. Currently we would allow for a rebound from here, but suspect that this will struggle to clear 1.3250.” warns Karen Jones, an analyst at Commerzbank.
Technically speaking, the pair is operating at 1.3106, or +0.11% in these moments. The EUR/USD will look towards resistances at 1.3209, then 1.3310, and 1.3365. Alternatively, a movement lower will initiate supports at 1.3053, ahead of 1.2998, and 1.2987, calculates the Mataf.net analyst team.