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27 Aug 2013
EUR/USD could push beyond 1.3400 overnight
FXstreet.com (Edinburgh) -It seems the single currency is warming up to trespass the 1.3400 handle in the upcoming Asian session, with the EUR/USD keeping the upper end of the intraday range.
EUR/USD digested the war rumours
The euro now seems to stabilize in the 1.3390-1.3400 band as we enter the last part of the NA session, leaving the door open for further upside during the Asian trading hours, although market participants will remain vigilant regarding the situation in Syria. Chief Strategist Camilla Sutton at Scotiabank commented the technical studies are mixed albeit turning to bearish. The expert added, “The MACD has dropped into sell territory and the failure of spot to sustain itself above 1.34 is a concern. Risk reversals continue to warn that the option market is protecting itself against USD upside risk”.
EUR/USD levels to consider
As of writing the pair is now advancing 0.16% at 1.3390 with the immediate resistance at 1.3410 (high Aug.23) followed by 1.3427 (high Aug.21) and then 1.3453 (high Aug.20). On the flip side, a breach of 1.3322 (low Aug.27) would open the door to 1.3299 (low Aug.22) and finally 1.3285 (MA30d).
EUR/USD digested the war rumours
The euro now seems to stabilize in the 1.3390-1.3400 band as we enter the last part of the NA session, leaving the door open for further upside during the Asian trading hours, although market participants will remain vigilant regarding the situation in Syria. Chief Strategist Camilla Sutton at Scotiabank commented the technical studies are mixed albeit turning to bearish. The expert added, “The MACD has dropped into sell territory and the failure of spot to sustain itself above 1.34 is a concern. Risk reversals continue to warn that the option market is protecting itself against USD upside risk”.
EUR/USD levels to consider
As of writing the pair is now advancing 0.16% at 1.3390 with the immediate resistance at 1.3410 (high Aug.23) followed by 1.3427 (high Aug.21) and then 1.3453 (high Aug.20). On the flip side, a breach of 1.3322 (low Aug.27) would open the door to 1.3299 (low Aug.22) and finally 1.3285 (MA30d).