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16 Jul 2013
EUR/USD consolidates gains above 1.3100
FXstreet.com (Barcelona) -The EUR/USD is confirming its bullish momentum on Tuesday, consolidating its gains above 1.3100 the figure.
EUR/USD eyes on Bernanke’s testimony
Same as last week, Bernanke will be the main protagonist in the upcoming sessions, as the price action of the pair will hinge on his speech tomorrow, at least in the very short term. Analysts at TD Securities commented “On the charts, EURUSD’s rally above 1.31 overnight is bullish sign that adds to the long lower shadows on the daily candles from Friday and Monday. Resistance above spot now looks to last week’s high of 1.3196, while a retracement lower should find significant support at 1.3000”.
EUR/USD key levels
The pair is now up 0.57% at 1.3138 and a surpass of 1.3208 (high Jul.11) would open the door to 1.3255 (high Jun.21) and finally 1.3261 (76.4% of 1.3417-1/2755). On the downside, support levels align at 1.3051 (low Jul.16) followed by 1.2992 (low Jul.15) and then 1.2982 (50% of 1.2755-1.3208).
EUR/USD eyes on Bernanke’s testimony
Same as last week, Bernanke will be the main protagonist in the upcoming sessions, as the price action of the pair will hinge on his speech tomorrow, at least in the very short term. Analysts at TD Securities commented “On the charts, EURUSD’s rally above 1.31 overnight is bullish sign that adds to the long lower shadows on the daily candles from Friday and Monday. Resistance above spot now looks to last week’s high of 1.3196, while a retracement lower should find significant support at 1.3000”.
EUR/USD key levels
The pair is now up 0.57% at 1.3138 and a surpass of 1.3208 (high Jul.11) would open the door to 1.3255 (high Jun.21) and finally 1.3261 (76.4% of 1.3417-1/2755). On the downside, support levels align at 1.3051 (low Jul.16) followed by 1.2992 (low Jul.15) and then 1.2982 (50% of 1.2755-1.3208).