Forex: EUR/USD holding above 1.3060

Fri, 30 Jul 2010 00:50:00 +0200

Forex: EUR/USD holding above 1.3060

FXstreet.com (Buenos Aires) – EUR/USD Current price: 1.3079. Euro managed to extend gains to 1.3106 before pulling back slightly on American spike of risk aversion: stocks fell strongly in Wall Street, yet the pair holds for now above 1.3060; losing momentum according to hourly indicators yet still above 20 SMA, pair will find immediate support in fact around 1.3045, previous weekly high; if below, 1.3000 area will be next.

“4 hours chart show exactly the same picture, suggesting some downside pressure ahead of risk aversion Friday,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.3045 1.3000 1.2960. Resistance levels: 1.3110 1.3155 1.3190.

Technical Analysis (2010-07-29 22:15 GMT)

EUR/USD 1.3073/1.3075 - O: 1.2814 H: 1.2838 L: 1.28 C: 1.2832

Trend R3: 1.3144
R2: 1.3111
R1: 1.3078
S1: 1.3006
S2: 1.3039
S3: 1.3072