Tuesday 9 July 2013

Turn for EUR/USD coming?

EUR/USD

EUR/USD have been falling since last Thursday after ECB kept interest rates unchanged and the rising US dollar due to better NFP numbers.

Currently, EUR/USD is in a strong support zone. I do not expect EUR/USD to break this support zone easily and I am expecting at least a rebound for EUR/USD from this zone this week or latest next week.

The critical level to watch will be 1.2657, and if this level is broken, be careful for more downside.

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