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18 Jun 2013
EUR/USD another attempt to 1.3400
FXstreet.com (Edinburgh) - The shared currency is alternating gains and losses on Tuesday in quite a volatile session, now attempting once more to push EUR/USD beyond 1.3400 the figure.
EUR/USD now looks at FOMC
With most of the euro calendar now out of the way – Wednesday’s docket is almost irrelevant – market participants started to shift their attention to the FOMC meeting due tomorrow. In the view of Eric Theoret, Strategist at Scotiabank, the outlook on the cross remains bullish, adding, “all indicators suggestive of upside, but need to see a meaningful breach of 1.3400 to provide for further gains. Multi-session trend channel suggests support above 1.3320 with resistance beyond 1.3450”.
EUR/USD key levels
At the moment the pair is up 0.23% at 1.3399 and a breakout of 1.3434 (high Feb.20) would target 1.3456 (high Feb.14) en route to 1.3481 (76.4% of 1.3711-1.2740). On the flip side, support levels align at 1.3295 (low Jun.14) followed by 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12).
EUR/USD now looks at FOMC
With most of the euro calendar now out of the way – Wednesday’s docket is almost irrelevant – market participants started to shift their attention to the FOMC meeting due tomorrow. In the view of Eric Theoret, Strategist at Scotiabank, the outlook on the cross remains bullish, adding, “all indicators suggestive of upside, but need to see a meaningful breach of 1.3400 to provide for further gains. Multi-session trend channel suggests support above 1.3320 with resistance beyond 1.3450”.
EUR/USD key levels
At the moment the pair is up 0.23% at 1.3399 and a breakout of 1.3434 (high Feb.20) would target 1.3456 (high Feb.14) en route to 1.3481 (76.4% of 1.3711-1.2740). On the flip side, support levels align at 1.3295 (low Jun.14) followed by 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12).