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5 Jun 2013
EUR/USD flirting with 1.3100
FXstreet.com (Barcelona) - Renewed weakness surrounding the greenback is now lifting EUR/USD to challenge 1.3100 the figure on Wednesday.
Against the backdrop of the ECB gathering due tomorrow, Currency Analyst at DailyFX Christopher Vecchio commented, “when ECB President Mario Draghi takes to his press conference, the Euro stands to suffer, as his focus will remain on the region’s weak economic position, the rising rates of unemployment in the periphery, particularly among the youth, and the fact that discussions over negative interest rates continue”.
As of writing, EUR/USD is up 0.0.11% at 1.3098 with the next hurdle at 1.3118 (high Jun.5) ahead of 1.3138 (76.4% of 1.3243-1.2796) and finally 1.3194 (high May 8). On the downside, a break below 1.3043 (MA200d) would open the door to 1.2985 (MA10d) en route 1.2961 (MA21d).
Against the backdrop of the ECB gathering due tomorrow, Currency Analyst at DailyFX Christopher Vecchio commented, “when ECB President Mario Draghi takes to his press conference, the Euro stands to suffer, as his focus will remain on the region’s weak economic position, the rising rates of unemployment in the periphery, particularly among the youth, and the fact that discussions over negative interest rates continue”.
As of writing, EUR/USD is up 0.0.11% at 1.3098 with the next hurdle at 1.3118 (high Jun.5) ahead of 1.3138 (76.4% of 1.3243-1.2796) and finally 1.3194 (high May 8). On the downside, a break below 1.3043 (MA200d) would open the door to 1.2985 (MA10d) en route 1.2961 (MA21d).