Forex: EUR/USD consolidates around 1.3340
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The bloc currency is navigating the area around 1.3340 unmolested, as today's docket in both the euro zone and the US have been digested.
Chief Currency Strategist Dean Popplewell at OANDA, writes "Buying dips remains the markets favoured action, looking for a move towards the 50% retrace of the 2011-12 decline, somewhere just shy of 1.35& For the EUR of late, any fundamental negativity is having a limited impact".
The cross is now losing 0.32% at 1.3339 with the next support levels aligning at 1.3249 (low Jan.11) en route to 1.3200 (MA21d) and then 1.3190 (MA10d).
On the flip side, a break above 1.3404 (high Jan.14) would expose 1.3487 (2012 high Feb.24) and then 1.3491 (50% of 2011-2012 drop).
Chief Currency Strategist Dean Popplewell at OANDA, writes "Buying dips remains the markets favoured action, looking for a move towards the 50% retrace of the 2011-12 decline, somewhere just shy of 1.35& For the EUR of late, any fundamental negativity is having a limited impact".
The cross is now losing 0.32% at 1.3339 with the next support levels aligning at 1.3249 (low Jan.11) en route to 1.3200 (MA21d) and then 1.3190 (MA10d).
On the flip side, a break above 1.3404 (high Jan.14) would expose 1.3487 (2012 high Feb.24) and then 1.3491 (50% of 2011-2012 drop).
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