Forex: EUR/USD hovers above 1.3200
Forex pairs in this Article »
EUR/USD
FXstreet.com (Córdoba) - After rallying to a high of 1.3234 during the European session, the EURUSD entered in a sideways consolidation phase above the 1.3200 mark amid thin trading conditions ahead of the Christmas holiday.
The EURUSD has spent the last hours within 1.3205 and 1.3234, and it is presently at 1.3210, 0.2% above its opening price.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com the pair is set to continue advancing, and a break above 1.3300 may see the pair extending to 1.3380 area, March 2012 monthly highs. "Risk to the downside is related with US fiscal cliff, and the panic selling of high yielders we may see if the country does not reach a deal: 1.3000 will then be a likely target, and once below 1.2745 comes next".
The EURUSD has spent the last hours within 1.3205 and 1.3234, and it is presently at 1.3210, 0.2% above its opening price.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com the pair is set to continue advancing, and a break above 1.3300 may see the pair extending to 1.3380 area, March 2012 monthly highs. "Risk to the downside is related with US fiscal cliff, and the panic selling of high yielders we may see if the country does not reach a deal: 1.3000 will then be a likely target, and once below 1.2745 comes next".
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