Back
4 Jun 2013
EUR/USD creeping towards 1.3100
FXstreet.com (Barcelona) - The shared currency continues its slow march north on Tuesday, eyeing the 1.3100 handle ahead of the US Trade Balance figures due later.
“The main event for euro direction will be the upcoming ECB meeting. We expect the ECB to leave monetary policy unchanged although it remains a close call. With President Draghi likely to maintain an easing bias, an unchanged policy stance will likely still weigh modestly upon the euro. Any signal that the ECB is moving closer to implementing negative deposit rates would weigh more heavily”, assessed Lee Hardman, Currency Analyst at BTMU.
As of writing, EUR/USD is up 0.07% at 1.3086 and a surpass of 1.3108 (high Jun.3) would open the door to 1.3194 (high May 8) and then 1.3243 (high May 1). On the downside, support levels line up at 1.3037 (MA200d) followed by 1.2961 (MA21d) and then 1.2956 (low Jun.3).
“The main event for euro direction will be the upcoming ECB meeting. We expect the ECB to leave monetary policy unchanged although it remains a close call. With President Draghi likely to maintain an easing bias, an unchanged policy stance will likely still weigh modestly upon the euro. Any signal that the ECB is moving closer to implementing negative deposit rates would weigh more heavily”, assessed Lee Hardman, Currency Analyst at BTMU.
As of writing, EUR/USD is up 0.07% at 1.3086 and a surpass of 1.3108 (high Jun.3) would open the door to 1.3194 (high May 8) and then 1.3243 (high May 1). On the downside, support levels line up at 1.3037 (MA200d) followed by 1.2961 (MA21d) and then 1.2956 (low Jun.3).