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1 May 2013
Forex: EUR/USD falls below the 1.3200 level
FXstreet.com (San Francisco) - After bouncing at 1.3165 following the FOMC unchanged decision, the EUR/USD attempted to trade above the 1.3200 level but the pair was rejected at 1.3220 and currently it is trading at 1.3175.
The EUR/USD is still 0.10% positive on the day but it remains slightly bearish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are bearish while the Stochastic is neutral in the 15-minute timeframe.
On the upside, a surpass of 1.3319 (high Feb.25) would then target 1.3343 (61.8% of Feb-Apr slide) en route to 1.3456 (high Feb.14). On the flip side, support levels align at 1.3162 (hourly low May 1) followed by 1.3120 (hourly high Apr.30) and finally 1.3052 (MA21d).
The EUR/USD is still 0.10% positive on the day but it remains slightly bearish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are bearish while the Stochastic is neutral in the 15-minute timeframe.
On the upside, a surpass of 1.3319 (high Feb.25) would then target 1.3343 (61.8% of Feb-Apr slide) en route to 1.3456 (high Feb.14). On the flip side, support levels align at 1.3162 (hourly low May 1) followed by 1.3120 (hourly high Apr.30) and finally 1.3052 (MA21d).