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Thursday, June 6, 2013
EUR/USD: traded as high as 1.3305
FXstreet.com (Buenos Aires) – The wild dollar selloff has lead to a test of the 1.3305 level in the EUR/USD, levels not seen since late February this year. Despite pulling back some at the time being, the pair holds into its gains, having added nearly 2 cents today. An ECB offering no economic policy change along with a more confident outlook, has helped the pair earlier, but is yen strong advance what triggered dollar selloff across the board and therefore, such gains in the EUR/USD.
At current levels, the pair maintains a strongly positive bias, with immediate support at 1.3241, May 1st daily high, followed by the 1.3190/1.3200 area that contained price advance several times over the last two months. With New York heading for lunch, and London closing down, market will likely child down a bit now, and consolidate ahead of tomorrow’s US NFP figures.
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