3 Jul 2013
The shared currency broke the prevailing range to the downside, pushing the EUR/USD to fall through the critical support at 1.3000 at the end of the US session on Tuesday.
FXstreet.com (Edinburgh) - The shared currency broke the prevailing range to the downside, pushing the EUR/USD to fall through the critical support at 1.3000 at the end of the US session on Tuesday.
EUR/USD facing headwinds
The pair continues to retrace the upside sparked in May, falling to current session lows around 1.2960 from June peaks near 1.3420. Jitters on Greece have re-emerged, hurting investors’ sentiment along with a more dovish tone expected in tomorrow’s ECB gathering. Today’s euro docket will pose another threat to the single currency, as Services PMI are due followed EMU’s Retail Sales.
EUR/USD levels to watch
As of writing, the pair is losing 0.11% at 1.2964 with the next support at 1.2958 (daily cloud base). On the flip side, resistance levels align at 1.3078 (high Jul.2) followed by 1.3103 (high Jun.28) and then 1.3115 (MA30d).
EUR/USD facing headwinds
The pair continues to retrace the upside sparked in May, falling to current session lows around 1.2960 from June peaks near 1.3420. Jitters on Greece have re-emerged, hurting investors’ sentiment along with a more dovish tone expected in tomorrow’s ECB gathering. Today’s euro docket will pose another threat to the single currency, as Services PMI are due followed EMU’s Retail Sales.
EUR/USD levels to watch
As of writing, the pair is losing 0.11% at 1.2964 with the next support at 1.2958 (daily cloud base). On the flip side, resistance levels align at 1.3078 (high Jul.2) followed by 1.3103 (high Jun.28) and then 1.3115 (MA30d).