29 Jul 2013
EUR/USD drops below 1.3250
FXstreet.com (Córdoba) - The EUR/USD surrendered its intraday gains and dipped to fresh daily lows at the beginning of the American session, although it remains within its last week’s range.
Having failed once again to break above 1.3300, EUR/USD turned lower and has dipped below Friday’s lows in recent dealings, sliding to 1.3245 so far. At time of writing, the pair is trading at the 1.3250 zone, still 0.3% below its opening price.
EUR/USD short term bullish
From a technical perspective, Fan Yang, analyst at FXTimes notes that a break above 1.3296, then 1.33 should open up the next resistance area between the 1.34 mark and the 1.3411 pivot. “This would be in the direction of the short-term trend, which is bullish”.
“A break below 1.3250 signals some bearish correction, but note that there is a 2-week long rising trendline that originated from around the 1.30 support”, Yang says. “Before a break of this speedline, the bearish outlook should be cautious and held for the near-term (intra-session)”.
Having failed once again to break above 1.3300, EUR/USD turned lower and has dipped below Friday’s lows in recent dealings, sliding to 1.3245 so far. At time of writing, the pair is trading at the 1.3250 zone, still 0.3% below its opening price.
EUR/USD short term bullish
From a technical perspective, Fan Yang, analyst at FXTimes notes that a break above 1.3296, then 1.33 should open up the next resistance area between the 1.34 mark and the 1.3411 pivot. “This would be in the direction of the short-term trend, which is bullish”.
“A break below 1.3250 signals some bearish correction, but note that there is a 2-week long rising trendline that originated from around the 1.30 support”, Yang says. “Before a break of this speedline, the bearish outlook should be cautious and held for the near-term (intra-session)”.