EURUSD – Weekly Technical Analysis – 17 Jun 2013


The EURUSD continued to maintain its bullish momentum last week. Topped at the 1.3393  level and closed at 1.3345.

With a break of  1.3305. Next resistance would be 1.3460, stability above 1.3460 on a weekly closing basis would turn the focus on the 1.3650 levels.

On the downside. Support is at 1.3176. Below this level will turn intraday bias to neutral and pave the way towards 1.3060 levels.

In all. As long as the key support 1.3176 holds. The pair is likely to return to its upside bias since the pair already breached above 1.3305. 1.3460 will be tested sooner or later.

In the medium-term outlook. The pair is under big consolidation between 1.2745/1.3710 levels, it’s likely to move within this range the upcoming months.

Recommendations: Buy above 1.3176 with a target towards 1.3460 levels, and 1.3650 as a second target, or sell cautiously after rejection on daily from 1.3650/460 levels with a target towards 1.3300 and 1.3170 as a second target.





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