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Forex: EUR/USD could see further slides upon break of 1.30 – V.Bednarik

By FXstreet.com,  January 03, 2013, 07:46:00 PM EDT

FXstreet.com (San Francisco) - The euro fell to a fresh three-week low against the greenback in early Asian trade Friday, with EUR/USD managing to test bids through 1.3021 on dollar strength, after losing more than one percent overnight. " … with US NFP data to be release next Friday US session, the EUR/USD trades at daily lows with a strong short term bearish tone," explains Valeria Bednarik, Chief Analyst at FXstreet.com. "Usually a slow session ahead of employment data, current Asian one could see further dollar gains if the pair breaks below the psychological 1.3000 mark."

Spot currently exchanges at 1.3035 after finding short-term support at the 50-day EMA (1.3020). Beyond the mentioned 1.30 figure, Ms. Bednarik identifies further support at 1.2970. Resistance levels lie at 1.3080, 1.3110 and 1.3145.




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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