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Forex: EUR/USD hovering over 1.3300

By FXstreet.com,  January 16, 2013, 01:52:00 AM EDT

FXstreet.com (Barcelona) - The single currency is orbiting around the key resistance at 1.3300 on Thursday, recovering some ground overnight after dipping to the vicinity of 1.3260 on Eurogroup's J.C.Juncker 's comments. It is worth noting that the EU official stressed that the euro exchange rate is 'dangerously high'.

Ahead in the day, Italian trade balance figures would be released, ahead of the more relevant inflation figures in the euro zone.

At the moment the cross is down 0.13% at 1.3288 with the next support 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

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