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6 Aug 2013
EUR/USD ascension held by resistance
FXstreet.com (New York) - The EUR/USD foreign exchange rate is tight roping the 1.3300 level Tuesday afternoon, refusing to break out of a consolidation that has gripped the pair during US trading.
EUR/USD strategic bias
According to the TD Securities Team, “The EUR has reflected the consolidative mood of markets overnight, despite the EUR/USD-supportive narrowing of German-US rate spreads. Technically speaking, the ‘doji’ formed on the weekly chart last week is a topping signal, and the 1.33 area looks like a decent sell zone to us.”
Technically speaking, the EUR/USD is now operating at 1.3307, now up +0.38%. Should the pair climb higher, resistances will hold the EUR/USD in check at 1.3332, onto 1.3364.
EUR/USD strategic bias
According to the TD Securities Team, “The EUR has reflected the consolidative mood of markets overnight, despite the EUR/USD-supportive narrowing of German-US rate spreads. Technically speaking, the ‘doji’ formed on the weekly chart last week is a topping signal, and the 1.33 area looks like a decent sell zone to us.”
Technically speaking, the EUR/USD is now operating at 1.3307, now up +0.38%. Should the pair climb higher, resistances will hold the EUR/USD in check at 1.3332, onto 1.3364.