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14 Jun 2013
EUR/USD extends the correction
FXstreet.com (Edinburgh) - It seems 1.3350 is quite taught a barrier for the EUR/USD in the European evening, retreating to the area of 1.3320 after another unsuccessful attempt to surpass it.
EUR/USD keeps weekly gains
The shared currency has benefited from the extreme USD long positioning, advancing to multi-months highs around 1.3390 on Thursday. According to Camilla Sutton, Strategist at Scotiabank, the outlook on the pair remains bullish, adding “but EUR is correcting into the NA open. A close below yesterday’s low of 1.3279 would accelerate EUR selling”.
Key levels in EUR/USD
At the moment, the pair is retreating 0.43% at 1.3317 and a violation of 1.3266 (low Jun.12) would target 1.3233 (MA10d) en route to 1.3232 (low Jun.11). On the upside, the next hurdle lies at 1.3390 (high Jun.13) followed by 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).
EUR/USD keeps weekly gains
The shared currency has benefited from the extreme USD long positioning, advancing to multi-months highs around 1.3390 on Thursday. According to Camilla Sutton, Strategist at Scotiabank, the outlook on the pair remains bullish, adding “but EUR is correcting into the NA open. A close below yesterday’s low of 1.3279 would accelerate EUR selling”.
Key levels in EUR/USD
At the moment, the pair is retreating 0.43% at 1.3317 and a violation of 1.3266 (low Jun.12) would target 1.3233 (MA10d) en route to 1.3232 (low Jun.11). On the upside, the next hurdle lies at 1.3390 (high Jun.13) followed by 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).