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14 Jun 2013
EUR/USD pares losses after weak US data
FXstreet.com (New York) - The EUR/USD finally received the impetus it needed to stage some prolonged manner of recovery Friday, edging higher after the release of US data.
In the United States, the Reuters/Michigan Consumer Sentiment Index (June) came in at 82.7, missing expectations of 84.5.
EUR/USD bounces off support
Briefing the technicals, the pair is operating off of its opening at -0.32% in at the time of writing at the 1.3332 handle. According to the Mataf.net analyst team, the EUR/USD will look towards supports at 1.3299 followed by 1.3233, and finally 1.3187. Alternatively, a movement to the upside and paring of losses will usher in resistances at 1.3411, then 1.3457, and eventually 1.3523.
EUR/USD affected by overbought indicators
“The EUR/USD dropped below 1.3345, which was affected by overbought pressure on momentum indicators. Moreover, linear regression indicators are still positive and the pair is stable above 1.3270. Therefore, we hold on to our positive expectations for today.” notes the Technical Analyst Team at ICN.com.
In the United States, the Reuters/Michigan Consumer Sentiment Index (June) came in at 82.7, missing expectations of 84.5.
EUR/USD bounces off support
Briefing the technicals, the pair is operating off of its opening at -0.32% in at the time of writing at the 1.3332 handle. According to the Mataf.net analyst team, the EUR/USD will look towards supports at 1.3299 followed by 1.3233, and finally 1.3187. Alternatively, a movement to the upside and paring of losses will usher in resistances at 1.3411, then 1.3457, and eventually 1.3523.
EUR/USD affected by overbought indicators
“The EUR/USD dropped below 1.3345, which was affected by overbought pressure on momentum indicators. Moreover, linear regression indicators are still positive and the pair is stable above 1.3270. Therefore, we hold on to our positive expectations for today.” notes the Technical Analyst Team at ICN.com.