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17 Jul 2013
EUR/USD keeps the range as Bernanke looms
FXstreet.com (Edinburgh) -The EUR/USD is extending its correction lower on Wednesday, falling from morning peaks near 1.3170 to the current area of 1.3145/40.
EUR/USD keeps the red ahead of Bernanke
Furthermore, dullness seems to have taken over as the pair remains anchored within a narrow range on the back of a non-existent docket in the bloc, leaving the euro to the mercy of the volatility from Bernanke’s testimony. “Overall, we expect the market reaction to be muted as much of the Chairman's remarks will be a repetition of past themes”, suggested Marcin Budkiewicz, Strategist at TD Securities.
EUR/USD critical levels
The pair is now losing 0.16% at 1.3141 with the next support at 1.3122 (MA30d) ahead of 1.3100 (psychological level) and finally 1.3078 (MA200d). On the upside, a break above 1.3174 (high Jul.16) would clear the way to 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).
EUR/USD keeps the red ahead of Bernanke
Furthermore, dullness seems to have taken over as the pair remains anchored within a narrow range on the back of a non-existent docket in the bloc, leaving the euro to the mercy of the volatility from Bernanke’s testimony. “Overall, we expect the market reaction to be muted as much of the Chairman's remarks will be a repetition of past themes”, suggested Marcin Budkiewicz, Strategist at TD Securities.
EUR/USD critical levels
The pair is now losing 0.16% at 1.3141 with the next support at 1.3122 (MA30d) ahead of 1.3100 (psychological level) and finally 1.3078 (MA200d). On the upside, a break above 1.3174 (high Jul.16) would clear the way to 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).