1 Aug 2013
EUR/USD in weekly lows near 1.3200
FXstreet.com (Edinburgh) - The bearishness surrounding the shared currency is intensifying on Thursday, with the EUR/USD now navigating the bottom end of the range around 1.3215/20.
EUR/USD vs. NFP
As expected by the majority of the FX community, the pair is trading in a softer tone after the recent failure to follow through and remain above the key 1.3300 handle. Of course the recent USD strength stemming from better US data plus the dovish tone from the ECB have indeed collaborated in the downside. However, there is still one hurdle left for the pair, and that is tomorrow’s Non farm Payrolls for July, where market consensus would suggest a solid print, adding selling pressure to the EUR.
EUR/USD critical levels
At the moment the pair is losing 0.64% at 1.3216 and a breakdown of 1.3207 (low Jul.31) would target 1.3166 (low Jul.25) en route to 1.3164 (low Jul.23). On the upside, resistance levels line up at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and finally 1.3417 (high Jun.19).
EUR/USD vs. NFP
As expected by the majority of the FX community, the pair is trading in a softer tone after the recent failure to follow through and remain above the key 1.3300 handle. Of course the recent USD strength stemming from better US data plus the dovish tone from the ECB have indeed collaborated in the downside. However, there is still one hurdle left for the pair, and that is tomorrow’s Non farm Payrolls for July, where market consensus would suggest a solid print, adding selling pressure to the EUR.
EUR/USD critical levels
At the moment the pair is losing 0.64% at 1.3216 and a breakdown of 1.3207 (low Jul.31) would target 1.3166 (low Jul.25) en route to 1.3164 (low Jul.23). On the upside, resistance levels line up at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and finally 1.3417 (high Jun.19).