Forex: EUR/USD regains 1.3300 ahead of the weekend
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EUR/USD
FXstreet.com (Córdoba) - After sliding over 100 pips throughout the day, the EURUSD managed to halt its decline at the 1.3280 zone and trimmed intraday losses, as risk sentiment improved and US stocks turned positive during the American afternoon.
EURUSD bounced off lows and managed to regain the 1.3300 level, climbing as high as 1.3330 before the 100-hour SMA offered resistance. At time of writing, EURUSD is trading at the 1.3320 area, 0.4% below its opening price. At these levels, EURUSD is on track to close the week with a net loss of 0.3% having failed twice to break decisively above 1.3400.
"At this point, a hold above 1.33 and a push above 1.3350 refocuses on 1.34", said Fan Yang, analyst at FXTimes. "A break above 1.3405 should revive the bullish outlook that has been the bias at least since Nov. 2012, with the 2012 high of 1.3485 in sight".
EURUSD bounced off lows and managed to regain the 1.3300 level, climbing as high as 1.3330 before the 100-hour SMA offered resistance. At time of writing, EURUSD is trading at the 1.3320 area, 0.4% below its opening price. At these levels, EURUSD is on track to close the week with a net loss of 0.3% having failed twice to break decisively above 1.3400.
"At this point, a hold above 1.33 and a push above 1.3350 refocuses on 1.34", said Fan Yang, analyst at FXTimes. "A break above 1.3405 should revive the bullish outlook that has been the bias at least since Nov. 2012, with the 2012 high of 1.3485 in sight".
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