Back
12 Jun 2013
EUR/USD stalling below 1.3320
FXstreet.com (Barcelona) - EUR/USD is last at 1.3310, off session and fresh 3-month highs at 1.3318, finding strong resistance at that level since it first got close to it back last Thursday.
The mentioned resistance area is coincident with big 81 figure in USD index spot (DXY), and just shy of 61.8% Fibo retracement of daily down leg 1.3711/1.2744 from late Feb highs to early April lows. According to IFR Markets analyst Richard Sexton bulls are in control of the pair now, pointing to mentioned Feb highs above 1.37, with only major resistance in between at 200 day SMA 1.3460.
Immediate resistance to the upside though for EUR/USD shows at recent fresh 3-month session high and Feb 25 high, followed by Feb 08 lows at 1.3354, while to the downside closest support lies at Jan 23 lows 1.3260, followed by May 01 highs at 1.3243.
The mentioned resistance area is coincident with big 81 figure in USD index spot (DXY), and just shy of 61.8% Fibo retracement of daily down leg 1.3711/1.2744 from late Feb highs to early April lows. According to IFR Markets analyst Richard Sexton bulls are in control of the pair now, pointing to mentioned Feb highs above 1.37, with only major resistance in between at 200 day SMA 1.3460.
Immediate resistance to the upside though for EUR/USD shows at recent fresh 3-month session high and Feb 25 high, followed by Feb 08 lows at 1.3354, while to the downside closest support lies at Jan 23 lows 1.3260, followed by May 01 highs at 1.3243.