28 Jun 2013
EUR/USD collapses to trade below the 1.30 mark
FXstreet.com (San Francisco) - The Euro is currently trading lower against the US Dollar and after falling more than 100 pips from the 1.3100 in the latest couple of hours, the EUR/USD has fallen to trade below the 1.30 key level and reach an intra-day low at 1.2990.
EUR/USD was rejected from the 1.3100 area and dropped over 100 pips, erasing completely its intraday gains to trade in negative territory following mixed US data and a negative opening for US stocks.
Currently, the EUR/USD is trading at 1.3000, 0.29% down on the day. The short term perspective remains slightly bearish in the 15-minute chart according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 1.3000 (psychological level), next supports are at 1.2984 (Jun 26 low) and 1.2950. On the other hand, resistances line up at 1.3100 and 1.3150 (Jun 21 high).
EUR/USD was rejected from the 1.3100 area and dropped over 100 pips, erasing completely its intraday gains to trade in negative territory following mixed US data and a negative opening for US stocks.
Currently, the EUR/USD is trading at 1.3000, 0.29% down on the day. The short term perspective remains slightly bearish in the 15-minute chart according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 1.3000 (psychological level), next supports are at 1.2984 (Jun 26 low) and 1.2950. On the other hand, resistances line up at 1.3100 and 1.3150 (Jun 21 high).