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13 Jun 2013
EUR/USD testing lows around 1.3340/45
FXstreet.com (Edinburgh) - After hitting fresh intraday highs around 1.3385/90, the EUR/USD is now dipping to fresh session lows in the area of 1.3340/45.
Positioning, euro yields are helping EUR/USD
“The low yielding euro, pound, and Swiss franc are the main beneficiaries of the position adjustment alongside the yen resulting from short funding positions being liquidated. The modest improvement in cyclical economic conditions in Europe is also providing support although the scale of their recent rebounds against the US dollar is running beyond improving fundamentals”, assessed Lee Hardman, Currency Analyst at BTMU. The analyst expects the greenback to regain ground once this development concludes.
EUR/USD levels
As of writing the pair is up 0.03% at 1.3342 with the next hurdle at 1.3456 (high Feb.14) followed by 1.3520 (high Feb.13) and then 1.3577 (high Feb.7). On the downside, a break below 1.3266 (low Jun.12) would target 1.3177 (low Jun.10) en route to 1.3162 (MA10d).
Positioning, euro yields are helping EUR/USD
“The low yielding euro, pound, and Swiss franc are the main beneficiaries of the position adjustment alongside the yen resulting from short funding positions being liquidated. The modest improvement in cyclical economic conditions in Europe is also providing support although the scale of their recent rebounds against the US dollar is running beyond improving fundamentals”, assessed Lee Hardman, Currency Analyst at BTMU. The analyst expects the greenback to regain ground once this development concludes.
EUR/USD levels
As of writing the pair is up 0.03% at 1.3342 with the next hurdle at 1.3456 (high Feb.14) followed by 1.3520 (high Feb.13) and then 1.3577 (high Feb.7). On the downside, a break below 1.3266 (low Jun.12) would target 1.3177 (low Jun.10) en route to 1.3162 (MA10d).