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25 Jun 2013
EUR/USD upside capped at 1.3100
FXstreet.com (New York) - The EUR/USD foreign exchange rate has been unable to summit and stabilize the 1.3100 region in recent moments, preferring to tepidly trade within sights of this key barrier.
EUR/USD underperforms
The EUR has been the most notable underperformer – “This is perhaps a reflection of ECB chief Draghi’s overnight comments that an exit from accommodative policy is still distant and the contrast they provide to recent chatter about Fed tapering kicking in later this year (although rising Spanish and Italian borrowing costs have raised a few eyebrows).” suggests Mike Jones, an analyst at BNZ.
EUR/USD outlook convoluted
According to the Technical Analyst Team at ICN.com, “The EUR/USD pair is trying to move to the upside benefiting from stability above 1.3115 which might extend the intraday upside move. We cannot bet on extending bullishness in light if trading below Linear Regression Indicators and stability of RSI below line 50.”
The EUR/USD is still down -0.18% today, refusing to find its way out of negative territory. Technically speaking, the EUR/USD decline will be fortified by supportive means at 1.3080, then 1.3040, and finally 1.2990.
EUR/USD underperforms
The EUR has been the most notable underperformer – “This is perhaps a reflection of ECB chief Draghi’s overnight comments that an exit from accommodative policy is still distant and the contrast they provide to recent chatter about Fed tapering kicking in later this year (although rising Spanish and Italian borrowing costs have raised a few eyebrows).” suggests Mike Jones, an analyst at BNZ.
EUR/USD outlook convoluted
According to the Technical Analyst Team at ICN.com, “The EUR/USD pair is trying to move to the upside benefiting from stability above 1.3115 which might extend the intraday upside move. We cannot bet on extending bullishness in light if trading below Linear Regression Indicators and stability of RSI below line 50.”
The EUR/USD is still down -0.18% today, refusing to find its way out of negative territory. Technically speaking, the EUR/USD decline will be fortified by supportive means at 1.3080, then 1.3040, and finally 1.2990.