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6 Aug 2013
EUR/USD steadies around 1.3300
FXstreet.com (Córdoba) - The EUR/USD has steadied around the 1.3300 level during the American afternoon, after a more volatile start of the session.
USD weakens amid taper talk
The EUR/USD reached a 1-week high of 1.3320 before finding resistance and pulling back below the 1.3300 mark, but EUR/USD regained the upside after Chicago Fed President Evans said he wouldn’t rule out tapering in September, triggering another wave of USD selloff.
“Chicago Fed President Evans is one of the last people you would expect to endorse tapering so you can expect tapering at some point this year as a done deal”, said Adam Button, analyst at ForexLive.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.3305/10, where it records a 0.4% gain on Tuesday. Immediate resistances line up at 1.3320 (daily high) and 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports could be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low).
USD weakens amid taper talk
The EUR/USD reached a 1-week high of 1.3320 before finding resistance and pulling back below the 1.3300 mark, but EUR/USD regained the upside after Chicago Fed President Evans said he wouldn’t rule out tapering in September, triggering another wave of USD selloff.
“Chicago Fed President Evans is one of the last people you would expect to endorse tapering so you can expect tapering at some point this year as a done deal”, said Adam Button, analyst at ForexLive.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.3305/10, where it records a 0.4% gain on Tuesday. Immediate resistances line up at 1.3320 (daily high) and 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports could be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low).