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25 Jun 2013
EUR/USD surrenders 1.3100 level
FXstreet.com (New York) - The EUR/USD foreign exchange rate has fallen back below the 1.3100 level Tuesday, unable to achieve much stability above this key region.
Following the recent destabilization and loss of this region, the EUR/USD technical pair has now settled at 1.3091, presently down -0.20%. The Mataf.net analyst team has identified supportive structures at 1.3075, followed by 1.3025, and ultimately 1.2999. Alternatively, resistances lie higher at 1.3160 then 1.3195, and finally 1.3245.
EUR/USD should struggle to regain 1.3200 level
“Interim rebounds for the EUR/USD should struggle to regain 1.3200-50 and then be followed by another frustrating slide through 1.3000 in a position flipping decline to test 1.2700 within the context of a broader 1.25-1.37 range. The head and shoulders pattern may be mentioned again, but not much should transpire from this.” Riddell adds.
Following the recent destabilization and loss of this region, the EUR/USD technical pair has now settled at 1.3091, presently down -0.20%. The Mataf.net analyst team has identified supportive structures at 1.3075, followed by 1.3025, and ultimately 1.2999. Alternatively, resistances lie higher at 1.3160 then 1.3195, and finally 1.3245.
EUR/USD should struggle to regain 1.3200 level
“Interim rebounds for the EUR/USD should struggle to regain 1.3200-50 and then be followed by another frustrating slide through 1.3000 in a position flipping decline to test 1.2700 within the context of a broader 1.25-1.37 range. The head and shoulders pattern may be mentioned again, but not much should transpire from this.” Riddell adds.