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17 May 2013
EUR/USD closing the week around 1.2800
FXstreet.com (Barcelona) - Bad week for the single currency, falling from Monday’s highs in the proximities of 1.3030 to today’s lows in sub 1.2800 levels, with the USD strength as the main catalyst.
Monday will bring a very light docket in both the euro area and the US, with Industrial Orders/Sales in Italy and the Chicago Fed National Activity Index followed by a speech by Fed’s Evans.
EUR/USD is now losing 0.36% at 1.2834 and a breach of 1.2796 (low May 17) would aim for 1.2754 (weekly cloud base) and finally 1.2740 (2013 low Apr.14).
On the flip side, resistance barriers align at 1.2850 (prior intraday lows) followed by 1.2890 (high May 17) and then 1.2930 (high May 16).
Monday will bring a very light docket in both the euro area and the US, with Industrial Orders/Sales in Italy and the Chicago Fed National Activity Index followed by a speech by Fed’s Evans.
EUR/USD is now losing 0.36% at 1.2834 and a breach of 1.2796 (low May 17) would aim for 1.2754 (weekly cloud base) and finally 1.2740 (2013 low Apr.14).
On the flip side, resistance barriers align at 1.2850 (prior intraday lows) followed by 1.2890 (high May 17) and then 1.2930 (high May 16).