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Forex pairs in this Article » EUR/USD (Edinburgh) -The bloc currency is now accelerating its intraday downside at the beginning of the week, dragging the EUR/USD to fresh lows around 1.3365.

EUR/USD keeps the range

Despite today’s ongoing correction, the pair remains well within the more ample range of 1.32-1.34 since early July, with the absence of a relevant trigger being behind the pattern. Taking a look at weekly charts, analysts at TD Securities commented, “the charts suggest that there are slightly greater upside risks for the EUR near-term but our conviction regarding the bull view is low. We rather think the market is range bound”.

EUR/USD key levels

The pair is now losing 0.12% at 1.3368 and a breakdown of 1.3342 (61.8% of 1.2754-1.3452) would target 1.3333 (MA10d) en route to 1.3297 (low Aug.22). On the upside, the initial barrier aligns at 1.3427 (high Aug.21) ahead of 1.3453 (high Aug.20) and then 1.3456 (high Feb.14).
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