Forex: EUR/USD break of 1.3040 will expose 1.0300 – V.Bednarik
Forex pairs in this Article » EUR/USD
FXstreet.com (San Francisco) - After losing ground for the first time in three days, EURUSD is operating within a tight range beneath 1.3100 today in Asia. Last at 1.3070, the 50-day EMA at 1.3030 offers immediate support, then the 1.3000 psychological figure and 1.2950. "A break below 1.3040 area will expose 1.3000 price zone, yet further slides are not yet seen," notes Valeria Bednarik, Chief Analyst at FXstreet.com. "The 38.2% retracement of it latest slide is located at 1.3110, immediate short term resistance," she says, with further resistance noted at 1.3120, 1.3145 and 1.3190. Asian shares hold a positive bias today, with Japan's Nikkei now up 0.26%, Australian shares are up 0.34% and the Hang Sen is currently up 0.4%.