Forex: EUR/USD steadies about opening levels
Forex pairs in this Article »
EUR/USD
FXstreet.com (Córdoba) - The setback of the euro against the dollar, triggered by stronger-than-anticipated US retail sales, found support at the 1.2315 area, from where EURUSD bounced slightly during the American afternoon.
EURUSD has managed to stabilize around 1.2330 where it trades virtually unchanged on the day, after rising and pulling back from a high of 1.2385.
From a technical perspective, "Loss of momentum on hourly chart, with MACD pointing lower but still above the midline, see risk of further easing, however, ability to reverse above 1.2300 handle, would keep hopes of fresh gains in play", says Slobodan Drvenica, analyst at Windsor Brokers Ltd . "As larger picture's bears remain in play, short-term action off 1.2042 low is seen as corrective as long as important 1.2440 barrier stays intact".
EURUSD has managed to stabilize around 1.2330 where it trades virtually unchanged on the day, after rising and pulling back from a high of 1.2385.
From a technical perspective, "Loss of momentum on hourly chart, with MACD pointing lower but still above the midline, see risk of further easing, however, ability to reverse above 1.2300 handle, would keep hopes of fresh gains in play", says Slobodan Drvenica, analyst at Windsor Brokers Ltd . "As larger picture's bears remain in play, short-term action off 1.2042 low is seen as corrective as long as important 1.2440 barrier stays intact".
Free Annual Reports
