EUR/USD: daily update

EUR/USD is trading just above $1.3300. The single currency lost about 100 pips in 2 days. Euro tried to rise on rather positive PMI figures from the euro area (only France disappointed, while German and the euro zone’s figures were better than expected), but then met resistance at $1.3365.

TD Securities: “We rather feel that EUR/USD is still essentially range bound and that the market is close to the top of the range here. But the EUR is likely to remain supported while spreads remain at current levels (or continue to narrow)”.

Support is at $1.3308 and $1.3300, $1.3280, $1.3230 and in the $1.3200/3190 area. Resistance is at $1.3360, $1.3380, $1.3427 and $1.3450.

Chart. H4 EUR/USD

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