EURUSD – Weekly Technical Analysis – 24 Jun 2013

EURO-Dollar-min

The EURUSD maintained a bearish momentum last week. Topped at 1.3415 and bottomed at 1.3098. Now the pressure will be on the key support 1.3098. The EURUSD will have to hold below the 1.3098 levels on a weekly closing basis to push the market for further downside losses. If seen. It will target the 1.3000 levels ahead of 1.2900. A further break will turn the focus on the 1.2795 levels.

Alternatively, a failure to hold, below the 1.3098 levels could mean a return to the 1.3415 levels. If seen that would be a great chance to short after rejection on daily below 1.3415 with target towards 1.2900 levels, to overcome its weakness and the bearish threat, the pair needs to hold above the 1.3415 levels on a weekly closing basis, otherwise, the risk will remain strong to the downside with risk towards 1.2900 levels even in case of bullish correction.

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MARKET DATA

UPCOMING ECONOMIC EVENTS

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