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Forex: EUR/USD testing the 1.3000 barrier

FXstreet.com (Barcelona) - The EUR/USD is facing another debilitating session, having briefly touched below the 1.3000 barrier in recent moments en route to session lows at 1.2991 Friday during European trading. At the time of writing, the cross is testing this region, stubbornly clinging to the 1.2999/02 level and incurring a loss of -0.29% today.

The EUR/USD is slated to face short-term support at 1.2967, followed by 1.2905, and finally 1.2800, according to the Mataf.net Technical Analyst Team. On the ascension, the pair will encounter means of resistance at 1.3134, then 1.3239, and 1.3301.

According to the ICN.com Technical Analyst Team, “The EUR/USD dropped sharply yesterday and is trading again below significant support levels 1.3115 and 1.3080. Prolonged stability below the mentioned levels might trigger a downside move today with the possibility of great volatility and some bullish corrections. Trading below 1.3155 is required to keep the negative outlook over intraday basis and during the upcoming short period.”

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