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4 Jun 2013
EUR/USD bounces off 1.3040 to trade flat
FXstreet.com (Córdoba) - The euro continues to waver against the dollar, having been rejected from the 1.3100 area and contained on the downside by the 1.3040 zone.
The US dollar benefited from better data on Tuesday, dragging EUR/USD to daily lows during the NY trade, but the pair quickly found buyers and bounced, erasing daily losses. At time of writing, EUR/USD is trading at the 1.3070 area, virtually unchanged since opening.
As for technical levels, on the upside immediate resistances are seen at the 1.3100/10 area (psychological level/Jun 3 high/100-day SMA), followed by 1.3175 (May 9 high). On the downside, supports might be faced at 1.3040 (daily low) and 1.3030 (200-day SMA).
The US dollar benefited from better data on Tuesday, dragging EUR/USD to daily lows during the NY trade, but the pair quickly found buyers and bounced, erasing daily losses. At time of writing, EUR/USD is trading at the 1.3070 area, virtually unchanged since opening.
As for technical levels, on the upside immediate resistances are seen at the 1.3100/10 area (psychological level/Jun 3 high/100-day SMA), followed by 1.3175 (May 9 high). On the downside, supports might be faced at 1.3040 (daily low) and 1.3030 (200-day SMA).