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20 Jun 2013
EUR/USD falls to support
FXstreet.com (New York) - The EUR/USD foreign exchange rate tumbled yesterday following the Fed fallout, only to extend this weakness today during European trading.
Earlier today in the EMU, Markit Manufacturing PMI (June) came in at 48.7, beating expectations of 48.6. Moreover, the Markit PMI Composite (June) yielded 48.9, exceeding estimates of only 48.1.
EUR/USD trading at support
After bottoming out at 1.3193 (session low), the pair is presently trading at 1.3220, down -0.56% off it’s opening. Technically speaking, Mataf.net analysts identify the next short-term measures of support at 1.3227, then 1.3168, and 1.3074. Meanwhile, resistance lies below at 1.3380, onto 1.3470, and 1.3533.
EUR/USD bearishness might extend
According to the Technical Analyst Team at ICN.com, "The EUR/USD dropped sharply yesterday and stabilized below 1.3270, which is negative and might extend bearishness today as momentum indicators reflect negativity. The pair didn’t fail the upside move yet, but breaking 1.3270 levels weakened it."
Earlier today in the EMU, Markit Manufacturing PMI (June) came in at 48.7, beating expectations of 48.6. Moreover, the Markit PMI Composite (June) yielded 48.9, exceeding estimates of only 48.1.
EUR/USD trading at support
After bottoming out at 1.3193 (session low), the pair is presently trading at 1.3220, down -0.56% off it’s opening. Technically speaking, Mataf.net analysts identify the next short-term measures of support at 1.3227, then 1.3168, and 1.3074. Meanwhile, resistance lies below at 1.3380, onto 1.3470, and 1.3533.
EUR/USD bearishness might extend
According to the Technical Analyst Team at ICN.com, "The EUR/USD dropped sharply yesterday and stabilized below 1.3270, which is negative and might extend bearishness today as momentum indicators reflect negativity. The pair didn’t fail the upside move yet, but breaking 1.3270 levels weakened it."