Forex: EUR/USD consolidates around 1.3340

By
A A A
Share |

FXstreet.com (Barcelona) - The bloc currency is navigating the area around 1.3340 unmolested, as today's docket in both the euro zone and the US have been digested.

Chief Currency Strategist Dean Popplewell at OANDA, writes "Buying dips remains the markets favoured action, looking for a move towards the 50% retrace of the 2011-12 decline, somewhere just shy of 1.35… For the EUR of late, any fundamental negativity is having a limited impact".

The cross is now losing 0.32% at 1.3339 with the next support levels aligning at 1.3249 (low Jan.11) en route to 1.3200 (MA21d) and then 1.3190 (MA10d).
On the flip side, a break above 1.3404 (high Jan.14) would expose 1.3487 (2012 high Feb.24) and then 1.3491 (50% of 2011-2012 drop).



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

Referenced Stocks:

FXstreet.com

FXstreet.com

More from FXstreet.com:

Related Videos

Stocks

Referenced

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM