EUR/USD last trades at 1.3273 vs. 1.3266 late Friday as it bounces from a low of 1.3260, losing Asia’s early upside gap advantage in the midst of a very quiet start to the session this Monday.
“The 4 hours chart also looks slightly bullish with indicators heading higher above their midlines, which suggest a break of 1.3310 should lead to more gains this Monday,” comments Valeria Bednarik, Chief Analyst at FXstreet.com. “On contrary, failure to break above 1.3300, and a retracement below 1.3260, should push the pair lower today, towards 1.3200/20, with range persisting.”
Upcoming risk events for the pair in the global day ahead include the speech by Fed Governor Bernanke at 1200GMT, then that of ECB President Draghi a few hours later at 1600GMT. Technical support levels lie at 1.3260, 1.3220 and 1.3190, according to Ms. Bednarik, with resistance noted at 1.3310, 1.3345 1.3390.
“The 4 hours chart also looks slightly bullish with indicators heading higher above their midlines, which suggest a break of 1.3310 should lead to more gains this Monday,” comments Valeria Bednarik, Chief Analyst at FXstreet.com. “On contrary, failure to break above 1.3300, and a retracement below 1.3260, should push the pair lower today, towards 1.3200/20, with range persisting.”
Upcoming risk events for the pair in the global day ahead include the speech by Fed Governor Bernanke at 1200GMT, then that of ECB President Draghi a few hours later at 1600GMT. Technical support levels lie at 1.3260, 1.3220 and 1.3190, according to Ms. Bednarik, with resistance noted at 1.3310, 1.3345 1.3390.
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