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Forex: EUR/USD in session lows, eyes on 1.3150

By FXstreet.com,  January 02, 2013, 12:37:00 PM EDT

FXstreet.com (Barcelona) - The single currency is falling more than a big figure since the highs at 1.3300 printed overnight, hovering over the 1.3160 region at the moment, as risk aversion is swelling during the NA session.

The recent ascent of the euro has been fuelled by the late developments in the US economy, although later poor manufacturing data out of the euro zone and a positive reading of the US ISM manufacturing have plotted against the risk appetite, taking a toll on the cross.

EUR/USD is now losing 0.30% at 1.3165 with the immediate support at 1.3156 (low Dec.18) followed by 1.3144 (low Dec.17).
On the upside, a break above 1.3260 (hourly res Jan.2) would open the door to 1.3300 (high Jan.2) and finally 1.3308 (high Dec.9).




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:



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