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26 Jun 2013
EUR/USD trading slightly off of session lows
FXstreet.com (New York) - The EUR/USD has recently established fresh intraday lows Wednesday, unable to shake an initial bout of negativity that has afflicted the pair during Asian trading.
EUR/USD sideways trading
Presently, the EUR/USD is now negative at 1.3077 in these moments, slightly above its lows at 1.3074. Supportive means for the EUR/USD will be encountered at the 1.3060 (weekly low), 1.3035, and eventually the 1.3000 barrier.
EUR/USD break of 1.3060 needed to confirm slide lower
According to Analyst Valeria Bednarik at FX Street, “The hourly chart shows EUR/USD consolidating below its 20-day SMA and the 50% retracement of the latest bullish run at 1.3105, while indicators stand flat below their midlines. In the 4 hour chart, technical readings hold in negative territory, showing no strength either side of the board. The downside continues to be favored, although a break below 1.3060 (weekly low), is now required to confirm further slides in the pair.”
EUR/USD sideways trading
Presently, the EUR/USD is now negative at 1.3077 in these moments, slightly above its lows at 1.3074. Supportive means for the EUR/USD will be encountered at the 1.3060 (weekly low), 1.3035, and eventually the 1.3000 barrier.
EUR/USD break of 1.3060 needed to confirm slide lower
According to Analyst Valeria Bednarik at FX Street, “The hourly chart shows EUR/USD consolidating below its 20-day SMA and the 50% retracement of the latest bullish run at 1.3105, while indicators stand flat below their midlines. In the 4 hour chart, technical readings hold in negative territory, showing no strength either side of the board. The downside continues to be favored, although a break below 1.3060 (weekly low), is now required to confirm further slides in the pair.”