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17 Jun 2013
EUR/USD dips to fresh session lows ahead of G-8
FXstreet.com (Barcelona) - EUR/USD is last trading at fresh session lows 1.3321 on the back of broad USD strength, with USD index breaking above 80.75 level of the spot index DXY, while Euro show weakness against AUD, NZD, and GBP.
Double no touch option caping EUR/USD ahead of 1.3400
As FXWW founder Sean Lee noted earlier, “EUR/USD is being capped by heavy protection of a long-term double no touch option structure ahead of 1.3400.” For the London session ahead main event for the day will be G-8 meetings taking place in Northern Ireland, while EU will show Trade balance figures at 09:00 GMT.
According to analyst at Windsor Brokers and contributor at FXstreet.com Slobodan Drvenica, “overbought daily studies required caution, with break below short-term range floor at 1.3277, also 50% of 1.3176/1.3389 ascend, to signal correction.”
Key technical levels
Immediate support to the downside for EUR/USD lies at Friday's lows 1.3292, followed by Thursday's lows at 1.3278, while to the upside, closest resistance shows at Wednesday's highs 1.3360, followed by Friday's Asian session highs at 1.3380.
Double no touch option caping EUR/USD ahead of 1.3400
As FXWW founder Sean Lee noted earlier, “EUR/USD is being capped by heavy protection of a long-term double no touch option structure ahead of 1.3400.” For the London session ahead main event for the day will be G-8 meetings taking place in Northern Ireland, while EU will show Trade balance figures at 09:00 GMT.
According to analyst at Windsor Brokers and contributor at FXstreet.com Slobodan Drvenica, “overbought daily studies required caution, with break below short-term range floor at 1.3277, also 50% of 1.3176/1.3389 ascend, to signal correction.”
Key technical levels
Immediate support to the downside for EUR/USD lies at Friday's lows 1.3292, followed by Thursday's lows at 1.3278, while to the upside, closest resistance shows at Wednesday's highs 1.3360, followed by Friday's Asian session highs at 1.3380.