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13 Aug 2013
EUR/USD ignited on impressive rally
FXstreet.com (Chicago) - EUR/USD soared to erase earlier losses and advance 0.07% against the greenback.
Price action evidences a clear reversal as the pair soared from daily lows to intraday highs zone within minutes. Breaking above 1.3300 resistance, the pair trades at 1.3308 with downside supports aligned at 1.3300 (August 9th lows), 1.3286 (July 25th highs) ahead of 1.3280 (June 20th highs) and resistances set at 1.3311 (August 1st highs), 1.3325 (August 5th highs) followed by 1.3347 (July 31st highs).
The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis with EMA20 below price at 1.3310. According to the ICN technical analysis team, the pair is moving sideways between 1.2775 support and 1.3600 resistance.
Price action evidences a clear reversal as the pair soared from daily lows to intraday highs zone within minutes. Breaking above 1.3300 resistance, the pair trades at 1.3308 with downside supports aligned at 1.3300 (August 9th lows), 1.3286 (July 25th highs) ahead of 1.3280 (June 20th highs) and resistances set at 1.3311 (August 1st highs), 1.3325 (August 5th highs) followed by 1.3347 (July 31st highs).
The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis with EMA20 below price at 1.3310. According to the ICN technical analysis team, the pair is moving sideways between 1.2775 support and 1.3600 resistance.