Back
13 May 2013
Forex: EUR/USD bounces to pre-data levels
FXstreet.com (Córdoba) - An unexpected rise in Apr US retail sales took the greenback to fresh daily highs versus the euro, but following the instinctive reaction, the US dollar lost momentum, giving way to risk appetite.
EUR/USD saw a quick dip toward the 1.2940 area, but quickly bounced to pre data levels. At time of writing, the pair is trading at the 1.2975/80 area, where it is virtually unchanged since opening.
In terms of technical levels, resistances for EUR/USD line up at 1.2995 (daily high) and 1.3050 (high May 10), while supports are seen at 1.2940 (daily low), 1.2934 (low May 10) and 1.2900 (psychological level).
EUR/USD saw a quick dip toward the 1.2940 area, but quickly bounced to pre data levels. At time of writing, the pair is trading at the 1.2975/80 area, where it is virtually unchanged since opening.
In terms of technical levels, resistances for EUR/USD line up at 1.2995 (daily high) and 1.3050 (high May 10), while supports are seen at 1.2940 (daily low), 1.2934 (low May 10) and 1.2900 (psychological level).