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6 Feb 2013
Forex: EUR/USD keeps the lows around 1.3530/35
The bloc currency is now extending the consolidation centred on 1.3520/25 on Wednesday, as risk aversion is prevailing among investors.
In reference to the last rebound of the euro, Senior Analyst M.Helt at Danske Bank argued “In our view it underlines the current strong support from relative rates, the cyclical outlook and risk appetite to the euro. In that respect is the expectation of easier monetary policy in Japan, the US and the UK also good news for the euro as it supports the global recovery and market’s sentiment”.
As of writing the pair is losing 0.33% at 1.3537
Next support levels line up at 1.3522 (MA10d) ahed of 1.3459 (low Feb5) and then 1.3415 (low Jan.29).
On the upside, a breakout of 1.3598 (high Feb.5) would bring 1.3620 (intraday support Feb.4) en route to 1.3660 (high Feb.4).
In reference to the last rebound of the euro, Senior Analyst M.Helt at Danske Bank argued “In our view it underlines the current strong support from relative rates, the cyclical outlook and risk appetite to the euro. In that respect is the expectation of easier monetary policy in Japan, the US and the UK also good news for the euro as it supports the global recovery and market’s sentiment”.
As of writing the pair is losing 0.33% at 1.3537
Next support levels line up at 1.3522 (MA10d) ahed of 1.3459 (low Feb5) and then 1.3415 (low Jan.29).
On the upside, a breakout of 1.3598 (high Feb.5) would bring 1.3620 (intraday support Feb.4) en route to 1.3660 (high Feb.4).