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18 Feb 2013
Forex: EUR/USD back around 1.3355/60
The bloc currency is trading back to the comfort zone around 1.3360 on Monday, ahead of ECB’s Draghi speech due in the European afternoon.
Empty docket in the euro area is exposing the market to increased volatility, with the cross meandering between 1.3380 y 1.3320
“EUR longs have dropped back displaying the more cautious attitude that is also evident in other Eurozone assets”, commented Jane Foley, Strategist at Rabobank, after the last CFTC COT Report.
The cross is now posting meagre gains at 1.3353 or 0.03%, facing the next resistance at 1.3392 (high Feb.15) ahead of 1.3415 (hourly high/lows Feb.14) and 1.3422 (MA10d).
On the flip side, a breakdown of 1.3307 (low Feb.15) would lead the way to 1.3286 (low Jan.24) and finally 1.3271 (MA55d).
Empty docket in the euro area is exposing the market to increased volatility, with the cross meandering between 1.3380 y 1.3320
“EUR longs have dropped back displaying the more cautious attitude that is also evident in other Eurozone assets”, commented Jane Foley, Strategist at Rabobank, after the last CFTC COT Report.
The cross is now posting meagre gains at 1.3353 or 0.03%, facing the next resistance at 1.3392 (high Feb.15) ahead of 1.3415 (hourly high/lows Feb.14) and 1.3422 (MA10d).
On the flip side, a breakdown of 1.3307 (low Feb.15) would lead the way to 1.3286 (low Jan.24) and finally 1.3271 (MA55d).