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14 May 2013
Forex: EUR/USD flat below the 1.3000 mark
FXstreet.com (Barcelona) - The EUR/USD is last at 1.2986, near session highs, off recent session lows at 1.2965, and about flat for the week so far. The pair has been mostly range bound since week started, printing weekly highs at 1.2999 following US retail sales after a initial drop to weekly lows at 1.2940. EUR/USD is down -1.58% year to date, and -0.99% in last 6 months.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the EUR/USD hourly chart reflects the lack of direction of the pair, as indicators stand flat in neutral territory, while 20 SMA is also flat around current levels,” the analyst says, adding: “In the 4 hours chart, 20 SMA maintains a strong bearish slope above current price, while indicators turned flat in oversold territory, and candles show long shadows both sides, another reflection on market uncertainty. Overall, the downside remains favored with spikes up to 1.3050 attracting sellers while a break below 1.2935 opening doors to a quick slide towards 1.2880,” she concludes.
Valeria sees support levels at: 1.2935, 1.2880 and 1.2840, while resistance levels at: 1.2970, 1.3000 and 1.3030.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the EUR/USD hourly chart reflects the lack of direction of the pair, as indicators stand flat in neutral territory, while 20 SMA is also flat around current levels,” the analyst says, adding: “In the 4 hours chart, 20 SMA maintains a strong bearish slope above current price, while indicators turned flat in oversold territory, and candles show long shadows both sides, another reflection on market uncertainty. Overall, the downside remains favored with spikes up to 1.3050 attracting sellers while a break below 1.2935 opening doors to a quick slide towards 1.2880,” she concludes.
Valeria sees support levels at: 1.2935, 1.2880 and 1.2840, while resistance levels at: 1.2970, 1.3000 and 1.3030.