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12 Aug 2013
EUR/USD slides below 1.3350 on new Greek bailout fears
FXstreet.com (Barcelona) - The EUR/USD foreign exchange rate is last trading at 1.3331, mostly unchanged from previous weekly close Friday, off recent session lows at 1.3316 printed in early interbank market open.
EUR/USD trend remains sideways
The EWUR/USD has opened slightly lower still holding above the 1.33 handle on the back of broad USD recovery, and talk of new bailout for Greece needed once German elections have ended. “The single currency rose to 1.3400 last week but this did not change the outlook on the daily chart,” said Trend Recognition founder Alexander Nikolov, adding: “The trend remains sideways and even if EUR climbs abv its June's top (1.3415), the outlook will remain unchanged. And as before, a move back twd the 1.27 level is expected by the end of the summer.
EUR/USD key technical levels
Immediate support to the downside for EUR/USD lies at recent session lows/August 06 highs 1.3323/16, followed by August 05 highs at 1.3301, and July 29/August 02 highs at 1.3295. To the upside, closest resistance shows at July 31highs 1.3346, followed by Fr5iday's highs at 1.3391, and Thursday's fresh 7-week high at 1.3401.
EUR/USD trend remains sideways
The EWUR/USD has opened slightly lower still holding above the 1.33 handle on the back of broad USD recovery, and talk of new bailout for Greece needed once German elections have ended. “The single currency rose to 1.3400 last week but this did not change the outlook on the daily chart,” said Trend Recognition founder Alexander Nikolov, adding: “The trend remains sideways and even if EUR climbs abv its June's top (1.3415), the outlook will remain unchanged. And as before, a move back twd the 1.27 level is expected by the end of the summer.
EUR/USD key technical levels
Immediate support to the downside for EUR/USD lies at recent session lows/August 06 highs 1.3323/16, followed by August 05 highs at 1.3301, and July 29/August 02 highs at 1.3295. To the upside, closest resistance shows at July 31highs 1.3346, followed by Fr5iday's highs at 1.3391, and Thursday's fresh 7-week high at 1.3401.