24 Jul 2013
EUR/USD plunges back to 1.3200 level
FXstreet.com (New York) - The EUR/USD technical pair retreated Wednesday, paring its losses and returning back towards the 1.3200 region, entrenching itself in negative territory.
In these moments, the EUR/USD is now operating at a -0.22% loss during US trading, having now settled at 1.3201. Technically speaking, the EUR/USD remains fortified by supports at 1.3191, ahead of 1.3180, and 1.3160, notes the Danske Research Team.
EUR/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD’s current strength is expected to terminate ahead of the 78.6% Fibonacci retracement at 1.3275. The market stays bid above 1.30 and loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”
In these moments, the EUR/USD is now operating at a -0.22% loss during US trading, having now settled at 1.3201. Technically speaking, the EUR/USD remains fortified by supports at 1.3191, ahead of 1.3180, and 1.3160, notes the Danske Research Team.
EUR/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD’s current strength is expected to terminate ahead of the 78.6% Fibonacci retracement at 1.3275. The market stays bid above 1.30 and loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”