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Forex pairs in this Article » EUR/USD (New York) - The EUR/USD foreign exchange has topped out recently at 1.3343 (intraday high), only to ease nearly 20 pips back towards 1.3320 during US trading Wednesday.

EUR/USD to falter in 1.3300 region?

According to Tim Riddell, Head of Global Markets Research at ANZ, “The current push above 1.3250 may raise concern over an extension towards 1.3475-1.3500, however the overall pattern remains the same. A broad range is being defined with the bias being that the squeeze may falter in the 1.3300’s.” An extension should merely define a 1.25-1.35 range. Moreover, dips below 1.3115 would signal that the range has been defined.

Despite this easing, the pair still remains in positive territory at +0.06% on the day. The analyst team has calculated the next short-term resistive measures for the EUR/USD at 1.3344, ahead of 1.33373 and 1.3429. On the decline, the pair will encounter support at 1.3259, then 1.3203, and finally 1.3174.

EUR/USD facing positive expectations despite recent stumble

“The EUR/USD failed to breach 61.8% correction at 1.3345 and moved to the downside again. The drop is considered a normal correction, as we count on stability above 1.3235 for our intraday positive expectations today, which is supported by Linear Regression Indicators.” notes the Technical Analyst Team at
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