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19 Aug 2013
EUR/USD extends the congestion
FXstreet.com (Edinburgh) -The single currency is prolonging its congestion pattern at the beginning of the week, driving the EUR/USD around 1.3320/25.
EUR/USD still capped by 1.3400
Better prospects from this week’s advanced PMI prints might give the pair the much needed oxygen to attempt another run to the 1.3400/20 band, a solid obstacle to leave behind the broader 1.2800-1.3400 range. Strategists Geoffrey Yu and Gareth Berry at UBS remain bullish on the pair, adding “With bullish conditions in place, the first resistance focus is at 1.3417, a break above which would open 1.3520. Support is at 1.3206 ahead of 1.3154”.
EUR/USD levels to watch
As of writing the pair is losing 0.12% at 1.3318 with the next support at 1.3314 (MA10d) followed by 1.3206 (low Aug.15) and finally 1.3198 (MA30d). On the upside, a breakout of 1.3367 (high Aug.16) would open the door to 1.3391 (high Aug.9) and then 1.3401 (high Aug.8).
EUR/USD still capped by 1.3400
Better prospects from this week’s advanced PMI prints might give the pair the much needed oxygen to attempt another run to the 1.3400/20 band, a solid obstacle to leave behind the broader 1.2800-1.3400 range. Strategists Geoffrey Yu and Gareth Berry at UBS remain bullish on the pair, adding “With bullish conditions in place, the first resistance focus is at 1.3417, a break above which would open 1.3520. Support is at 1.3206 ahead of 1.3154”.
EUR/USD levels to watch
As of writing the pair is losing 0.12% at 1.3318 with the next support at 1.3314 (MA10d) followed by 1.3206 (low Aug.15) and finally 1.3198 (MA30d). On the upside, a breakout of 1.3367 (high Aug.16) would open the door to 1.3391 (high Aug.9) and then 1.3401 (high Aug.8).