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Forex: EUR/USD break of 1.3040 will expose 1.0300 – V.Bednarik

By FXstreet.com,  January 08, 2013, 10:37:00 PM EDT

FXstreet.com (San Francisco) - After losing ground for the first time in three days, EUR/USD is operating within a tight range beneath 1.3100 today in Asia. Last at 1.3070, the 50-day EMA at 1.3030 offers immediate support, then the 1.3000 psychological figure and 1.2950. "A break below 1.3040 area will expose 1.3000 price zone, yet further slides are not yet seen," notes Valeria Bednarik, Chief Analyst at FXstreet.com. "The 38.2% retracement of it latest slide is located at 1.3110, immediate short term resistance," she says, with further resistance noted at 1.3120, 1.3145 and 1.3190. Asian shares hold a positive bias today, with Japan's Nikkei now up 0.26%, Australian shares are up 0.34% and the Hang Sen is currently up 0.4%.





The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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