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28 May 2013
EUR/USD threatening 1.2900
FXstreet.com (Barcelona) - The selling interest continues to weight on the bloc currency on Tuesday, dragging the pair to test the critical mark at 1.2900.
In the opinion of T.Vollalokken, Strategist at Coaching FX Traders, “below 1.2980 to hold several support levels but they could come up for a test should US data be strong this afternoon. The topside I think is vulnerable from the short speculative positions that were built 1-2 weeks ago. Resistance of substance should come in by 1.2995 and some minor ones a bit below”.
As of writing the pair retreating 0.19% at 1.2905 with the next support at 1.2821 (low May 23) followed by 1.2809 (low May 20) and then 1.2796 (low May 17). On the flip side, a surpass of 1.2939 (hourly high May 28) would bring 1.2986 (MA21d) and finally 1.2994 (high May 24).
In the opinion of T.Vollalokken, Strategist at Coaching FX Traders, “below 1.2980 to hold several support levels but they could come up for a test should US data be strong this afternoon. The topside I think is vulnerable from the short speculative positions that were built 1-2 weeks ago. Resistance of substance should come in by 1.2995 and some minor ones a bit below”.
As of writing the pair retreating 0.19% at 1.2905 with the next support at 1.2821 (low May 23) followed by 1.2809 (low May 20) and then 1.2796 (low May 17). On the flip side, a surpass of 1.2939 (hourly high May 28) would bring 1.2986 (MA21d) and finally 1.2994 (high May 24).