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May 10, 2013
Forex: EUR/USD slips below 1.3000, tests 200 DMA
FXstreet.com (Córdoba) - The US dollar has continues to build on Thursday's gains across the board, dragging EUR/USD to a fresh 2-week low sub-1.3000 at the beginning of the American session.
The euro found temporal support around 1.3000, but eventually surrendered to USD strength and fell to a low of 1.2975, where the 200-hour SMA has helped to contain the slide. At time of writing, EUR/USD is trading at the 1.2985 zone, recording a 0.4% loss on the day.
In terms of technical levels, immediate supports are seen at 1.2975 (200-day SMA) and 1.2955 (low Apr 24). On the upside, the 20-hour SMA around 1.3030 should offer resistance on bounces, followed by 1.3075 (21-day SMA) and 1.3100 (psychological level).
The euro found temporal support around 1.3000, but eventually surrendered to USD strength and fell to a low of 1.2975, where the 200-hour SMA has helped to contain the slide. At time of writing, EUR/USD is trading at the 1.2985 zone, recording a 0.4% loss on the day.
In terms of technical levels, immediate supports are seen at 1.2975 (200-day SMA) and 1.2955 (low Apr 24). On the upside, the 20-hour SMA around 1.3030 should offer resistance on bounces, followed by 1.3075 (21-day SMA) and 1.3100 (psychological level).