EURUSD – Weekly Technical Analysis – 01 Jul 2013

EURO-Dollar-min

The EURUSD continued to maintain its bearish momentum last week, topped at 1.3150, bottomed at 1.2984, and closed at 1.3010.

On the downside, the weekly close below 1.3098, opens the way towards 1.2900 levels ahead of 1.2700 levels, a break of 1.2984 will accelerate the bearish move towards 1.2900/1.2700 levels.

On the upside, resistance is at 1.3150, a daily close above 1.3150 will open the way towards 1.3250 levels, break of 1.3250 on a daily closing basis is likely to target 1.34150 levels.

Note that break of 1.3150 would delay the bearish move, If seen, the sell zone is 1.3250/1.3415, so short after rejection from this level on the daily chart with a target towards 1.3000.

In all, as long as 1.3150 holds, the pair will remain biased to the downside with risk towards 1.2900 ahead of 1.2700.

 

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