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2 Aug 2013
EUR/USD rebuffed by 1.3300 level
FXstreet.com (New York) - The EUR/USD foreign exchange failed to ultimately garner to impetus needed to overtake the 1.3300 level Friday, easing slightly lower in recent moments, whilst clinging to respectable gains.
Following the earlier hoopla surrounding NFP data in the US, the EUR/USD is now operating at 1.3281, still notching a sizable gain of +0.56% above its opening. In terms of the technical levels, a rise higher will retest resistance at 1.3276, onto 1.3299, and finally 1.3347, calculates the Mataf.net analyst team.
EUR/USD strategic bias
According to the TD Securities Team, “The EUR has also held up well overall (particularly compared to the broadly underperforming commodity currency bloc). Since the ECB press conference yesterday, Yesterday, Draghi firmly re-emphasized forward guidance and short-term Eurozone-US spreads narrowed. Typically the correlation would suggest such a moves in rates would see a higher EUR/USD. Overall however, we remain more bearish on the pair, but if yield spreads track narrower still, it may hamper the move lower in FX spot.”
Following the earlier hoopla surrounding NFP data in the US, the EUR/USD is now operating at 1.3281, still notching a sizable gain of +0.56% above its opening. In terms of the technical levels, a rise higher will retest resistance at 1.3276, onto 1.3299, and finally 1.3347, calculates the Mataf.net analyst team.
EUR/USD strategic bias
According to the TD Securities Team, “The EUR has also held up well overall (particularly compared to the broadly underperforming commodity currency bloc). Since the ECB press conference yesterday, Yesterday, Draghi firmly re-emphasized forward guidance and short-term Eurozone-US spreads narrowed. Typically the correlation would suggest such a moves in rates would see a higher EUR/USD. Overall however, we remain more bearish on the pair, but if yield spreads track narrower still, it may hamper the move lower in FX spot.”