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5 Aug 2013
EUR/USD capped by 1.3265 immediate resistance
FXstreet.com (Chicago) - EUR/USD tentatively exhausted its early breakout as its latest recovery attempt was capped by the 1.3265 resistance area (and 20-hour SMA) during the American afternoon.
The Euro had found grounds around 1.3230 regions after precipitous fall on ISM non-manufacturing PMI data made public in the US. Negative results were indicative of slow economic in Euro-zone countries with retail sales YoY at -0.9% vs. previous 0.3% and a still negative -4.9 investor confidence index. The pair then bounced off lows to edge above 1.3250 regions.
EUR/USD Technical levels
Technically speaking, the pair navigated between supports at 1.3200 (psychological level) would target 1.3188 (low Aug.2) en route to 1.3166 (low Jul.25) and resistances aligned at 1.3265 (20-hour SMA) ahead of 1.3345 (high Jul.31) and 1.3417 (high Jun.19). On one hour-time frame analysis, the FXstreet trend index reported pair as slightly bearish as losses added up to 0.19% and CCI pointing down.
The Euro had found grounds around 1.3230 regions after precipitous fall on ISM non-manufacturing PMI data made public in the US. Negative results were indicative of slow economic in Euro-zone countries with retail sales YoY at -0.9% vs. previous 0.3% and a still negative -4.9 investor confidence index. The pair then bounced off lows to edge above 1.3250 regions.
EUR/USD Technical levels
Technically speaking, the pair navigated between supports at 1.3200 (psychological level) would target 1.3188 (low Aug.2) en route to 1.3166 (low Jul.25) and resistances aligned at 1.3265 (20-hour SMA) ahead of 1.3345 (high Jul.31) and 1.3417 (high Jun.19). On one hour-time frame analysis, the FXstreet trend index reported pair as slightly bearish as losses added up to 0.19% and CCI pointing down.