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4 Feb 2013
Forex: EUR/USD unchanged so far above 1.3630
EUR/USD is trading last at 1.3644, off recent session highs at 1.3661, and about flat since previous weekly close Friday. The pair retraces from fresh 14-month highs at 1.3711 printed on Friday following US NFP, up +3.4% since year 2013 started.
“Looking at the Technicals,” says Greg McKenna, CEO at GlobalFX and former Head of Currency Strategy at the NAB and Westpac, “Euro might potentially have signalled short term high above 1.37,” the analyst notes, while FXstreet.com Independent Analyst Ivan Delgado points out that “1.3630 should be taken out, potentially leading to 1.3585, where plenty of buyers were parked after the initial USD spike post NFP.”
Immediate support to the downside for EUR/USD lies at recent session lows 1.3630, followed by Friday's lows/Wednesday's highs at 1.3589/85, and Thursday's lows at 1.3539. To the upside, closest resistance shows at recent session highs 1.3660, followed by Friday's London highs 1.3676, and Friday's fresh 14-month highs at 1.3711.
“Looking at the Technicals,” says Greg McKenna, CEO at GlobalFX and former Head of Currency Strategy at the NAB and Westpac, “Euro might potentially have signalled short term high above 1.37,” the analyst notes, while FXstreet.com Independent Analyst Ivan Delgado points out that “1.3630 should be taken out, potentially leading to 1.3585, where plenty of buyers were parked after the initial USD spike post NFP.”
Immediate support to the downside for EUR/USD lies at recent session lows 1.3630, followed by Friday's lows/Wednesday's highs at 1.3589/85, and Thursday's lows at 1.3539. To the upside, closest resistance shows at recent session highs 1.3660, followed by Friday's London highs 1.3676, and Friday's fresh 14-month highs at 1.3711.