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17 May 2013
EUR/USD challenges 1.2800
FXstreet.com (Córdoba) - The EUR/USD rushed its fall at the beginning of the New York session, as investors appeal for the greenback put the pair back under pressure.
EUR/USD broke below the 1.2840 support zone and dropped as low as 1.2801 in recent dealings before finding support. At time of writing, EUR/USD is trading at the 1.2810 zone, where it records a 0.5% loss on the day.
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD has scope for a downward continuation, eyeing the 1.2744 level, this year low. Bednarik locates next supports at 1.2785 and 1.2744, while she places resistances at 1.2840 and 1.2890 ahead of 1.2930.
EUR/USD broke below the 1.2840 support zone and dropped as low as 1.2801 in recent dealings before finding support. At time of writing, EUR/USD is trading at the 1.2810 zone, where it records a 0.5% loss on the day.
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD has scope for a downward continuation, eyeing the 1.2744 level, this year low. Bednarik locates next supports at 1.2785 and 1.2744, while she places resistances at 1.2840 and 1.2890 ahead of 1.2930.