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13 Sep 2013
EUR/USD stuck below 1.3300
FXstreet.com (Lisbon) - The EUR/USD foreign exchange rate could not get on track Friday, lacking the impetus for a prolonged push above the 1.3300 region.
In the EMU, Employment Change (YoY) was reported at -1.0% in Q2, compared with a figure of -1.0% previously. In addition, the Employment Change (QoQ) yielded a result of -0.1%, vs. a projection calling for -0.2%-
Despite trading at the 1.3304 level (intraday high) earlier today, the European session has largely seen the EUR/USD trade in negative territory. Indeed, the EUR/USD remains fortified by heavy support at 1.3260, ahead of 1.3223, and 1.3191, notes the Danske Research team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “By examining the hourly charts for the EUR/USD, we find that it failed to remain stable above 23.6% correction at 1.3290 weakening positivity. Meanwhile, the pair is still stable above the resistance that was breached before, forcing us to prefer to remain neutral today to see if the pair will trade again below resistance level, or will go back to stabilize above 1.3290.”
In the EMU, Employment Change (YoY) was reported at -1.0% in Q2, compared with a figure of -1.0% previously. In addition, the Employment Change (QoQ) yielded a result of -0.1%, vs. a projection calling for -0.2%-
Despite trading at the 1.3304 level (intraday high) earlier today, the European session has largely seen the EUR/USD trade in negative territory. Indeed, the EUR/USD remains fortified by heavy support at 1.3260, ahead of 1.3223, and 1.3191, notes the Danske Research team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “By examining the hourly charts for the EUR/USD, we find that it failed to remain stable above 23.6% correction at 1.3290 weakening positivity. Meanwhile, the pair is still stable above the resistance that was breached before, forcing us to prefer to remain neutral today to see if the pair will trade again below resistance level, or will go back to stabilize above 1.3290.”