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Forex: EUR/USD trapped around 1.3100

By FXstreet.com,  January 03, 2013, 12:48:00 PM EDT

FXstreet.com (Barcelona) - The bloc currency remains in auto-pilot after the European close, trading in a narrow range around the key support at 1.3100 and waiting for the FOMC minutes.

Currency Analyst David Song at DailyFX, assesses "The euro failed to preserve the range-bound price action carried over from the end of the previous year as the EURUSD slipped to a low of 1.3080, and the single currency remains poised to face additional headwinds this year as the debt crisis continues to drag on the real economy".

EUR/USD is down 0.54% at 1.3112
Next support is waiting at 1.3066 (low Dec.14) then 1.3040 (low Dec.13) and 1.2996 (low Dec.12).
On the upside, a break above 1.3190 (high Jan.3) would aim towards 1.3300 (high Jan.2) en route to 1.3308 (high Dec.19).




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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