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May 27, 2013
EUR/USD orbiting around 1.2925/30
FXstreet.com (Barcelona) - The shared currency is posting meager losses on Monday post-Asian close, hovering over 1.2925/30.
Empty docket and thin trade await investors on Monday due to the inactivity in the UK (bank holiday) and the US (Memorial Day). After last week’s tops around the key 1.3000 handle, the euro digested the positive results from the IFO indicator and returned to the current range between 1.2900 and 1.2940.
The pair is retreating 0.03% at 1.2931 and a break below 1.2900 (MA10d) would accelerate the decline towards 1.2821 (low May 23) and then 1.2809 (low May 20). On the upside, resistance levels align at 1.2998 (high may 22) followed by 1.2999 (MA21d) and finally 1.3030 (high May 14).
Empty docket and thin trade await investors on Monday due to the inactivity in the UK (bank holiday) and the US (Memorial Day). After last week’s tops around the key 1.3000 handle, the euro digested the positive results from the IFO indicator and returned to the current range between 1.2900 and 1.2940.
The pair is retreating 0.03% at 1.2931 and a break below 1.2900 (MA10d) would accelerate the decline towards 1.2821 (low May 23) and then 1.2809 (low May 20). On the upside, resistance levels align at 1.2998 (high may 22) followed by 1.2999 (MA21d) and finally 1.3030 (high May 14).